live stock

You should treat as purchases as any increase in the items you trade should be taken as the purchases.

what if a cow we own gives birth to a calf??...what will be the accounting treatment???

Dear ,

Please open an accont of calf and whatever exp. incurred by you for calf  capitalised them in to the account of calf. When it will be capable for genrate the revenue then stop the capitalisation. and then after exp & revenue will be t.r to revenue a/c.

Regards

Puneet Mittal

Originally posted by : Harit Kapoor
	what if a cow we own gives birth to a calf??...what will be the accounting treatment???

Accounting standard on the same is being prepared which is and ongoing process and there is an IAS on the same.