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AS 688 views 3 replies

I HAVE PROBLEM IN UNDERSTANDING THE POINT 1[D] OF AS-2
 

WHAT IS THE FULL ACCOUNTING TREATMENT OF LIVESTOCK AND AGRICULTRE PRODUCTS.....?

AND WHEN WE DO TREATMENT OF ABOVE ITEMS AS PER AS 2

PLZ HELP ME

THANKS

Replies (3)

dear tanay,

 

you have a genuine query. as far as i know accounting standard does not deal with live stocks.

plz cross check.

cheers

 

ganesh agarwala

AS 2 excludes livestock; agricultural produce etc. These are not covered by 'as2' and are valued at nrv

Agreed with both the above


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