STOCK PRESENTATION IN P&L AND NOTES OF ACCOUNTS
This query is : Open
18 June 2011
Plz tell me whether we show spare parts consumption while showing consumption of raw material in p&l accounts as per schedule vi.
and while preparing raw material wise stock chart for raw/packing material whether less than 10% value of stock is to be ignored.
and while preparing raw material wise stock chart for raw/packing material whether less than 10% value of stock is to be ignored.
18 June 2011
Consumption of stores and spare parts has to be disclosed by way of additional information as per schedule V1.
Less than 10% items can be safely ignored.
Less than 10% items can be safely ignored.
19 June 2011
Yes, Consumption of Stores and Spare parts needs to be shown as a separate line item as per Schedule VI.
and it is generally shown in the Material consumption schedule as a separate line item.
Yes, Consumption of Stores and Spare parts needs to be shown as a separate line item as per Schedule VI.
and it is generally shown in the Material consumption schedule as a separate line item.
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