A company purchased gold in 2010, they want to valuate in 31 march, 2018, so my question is if they show as a investment of Rs. 200000.00 and in the end of march valuation is 300000.00, so what will be the effect in tally, please give me a brief descripttion.
Menu
Gold valuation entry in tally
Replies (1)
reevaluation of investments. as per AS 13 will affect.
as per standard values are to be disclosed based on nature of investment. weather it is long term investment or short term investment.
if long term nature investments we're valued at cost price itself.
if it is short term nature, values at lower of cost or net realisable value.
but in your case better to shown at cost only.
as per standard values are to be disclosed based on nature of investment. weather it is long term investment or short term investment.
if long term nature investments we're valued at cost price itself.
if it is short term nature, values at lower of cost or net realisable value.
but in your case better to shown at cost only.
Recent Topics :
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
- Sell of CAFC books
- ITC ON RENT
- GSTR-9 Table 8A Portal and Excel Issues
- IGST on Commercial Rental Income (Different State)
- Revocation of suo moto cancelled GST registration
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
Related Topics :
CAclubindia
