Rev sch vi doubt ...urgent!! pls help!!!

please helpp its urgent

In cost of material consumed following fig. to be reported:-

Direct Incomes-Direct Expenses

and in Change in Inventory following to be reported:-

Closing Stock-Opening Stock

No its not like that. As per the guidance note issued by icai on revised schedule vi, "COST OF MATERIALS CONSUMED" is applicable for manufacturing companies. The material consumed would consist of raw materials, packing materials and other materials which are 'CONSUMED' in the manufacturing activities of the company.

Difference between Opening and Closing Inventories of finished goods, WIP, and stock in trade should be disclosed separately under the head "CHANGES IN INVENTORIES OF FG, WIP, STOCK IN TRADE"

yes i committed mistake in replying....Mr. Ashish pathak is absolutely right....Closing and Opening inventory is considered while computing Cost of material consumed. While Closing and opening inventory of finished goods is considered while computing Change in inventory.

Thanks a lotttt Mr. Ashish.

Seriously thank you!! :)

Thank you CA Parul :)