Valuation of Inventory and depreciation
This query is : Resolved
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 )
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
(Expert)
30 September 2008
1)Valued as per wealth tax rules.
2)Fair vale (value at which willing buyers and sellers exchange less selling costs)
2)Fair vale (value at which willing buyers and sellers exchange less selling costs)
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 )
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
(Expert)
30 September 2008
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