Valuation of Inventory and depreciation

This query is : Resolved

anmol (Querist)
Follow

30 September 2008 dear all,

i have two queries
1) how is Inventory of Jewellery Valued and Disclosed in F/S.-is there any specific method apart form AS 2

2) How are live stock and animals valued , depreciated and disclosed?

( say a Co in hill station uses Horses or other cattle to Transport goods.
are these cattle a Fixed asset to the Co? if Yes how are these Fixed assets Depreciated? as AS6 does not cover live stocks? is there any other method applicable to live stock )

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
Follow

30 September 2008 1)Valued as per wealth tax rules.
2)Fair vale (value at which willing buyers and sellers exchange less selling costs)

anmol

anmol (Querist)
Follow

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
Follow

30 September 2008 The query has ben answered.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

vinod

sandhya.v

Suneel Shah

NICKOONJ VANANI

CA.K.RAMAKRISHNA. PRABHU

Subscribe Now

Valuation of Inventory and depreciation

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Article Assistant

Accountant

GST CONSULTANCY

CA Final

GST CONSULTANT