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Closing Stock of Gift Items in Balance Sheet
Under which head in balance sheet will closing stock of gift items be placed (like writing pads, other promotional gift items like watches, pen holders, etc)
Replies (6)
Under closing stock,, make a separate ledger of gift items under closing stocks.
There is no such disclosure in balance asheet as per schedule vi .
A seperate notes on account need to be made.
A seperate notes on account need to be made.
Well, no disclosure is ok, but it needs to be under somewhere right?
like in fixed asset or current asset or indirect expenses
like in fixed asset or current asset or indirect expenses
closing stock mean closing stock. (PNL )
Doesn't balance sheet have closing stock?
Periodically the closing stock is setoff against purchases. So it is not possible to classify it as distribution expenses
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