Hai Frnds
I have a small doubt with regard to Revised Schedule VI. How to show the Opening & Closing Stock in P&L a/c as per revised schedule VI.
Thanks in Advance.
Deepak Gupta
(CA Student)
(15922 Points)
Replied 29 October 2012
| Originally posted by : Sravanthi | ||
 |
Hai Frnds I have a small doubt with regard to Revised Schedule VI. How to show the Opening & Closing Stock in P&L a/c as per revised schedule VI. Thanks in Advance. |
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COST OF MATERIALS CONSUMED:
Opening Stock of Raw Materials, Packing Materials, etc.
Add: Purchases of Raw Materials, Packing Materials, etc.
Less: Closing Stock of Raw Materials, Packing Materials, etc.
Net Amount = As per Statement of P&L
.
CHANGES IN INVENTORY OF FG, WIP, STOCK–IN–TRADE, ETC.:
Finished Goods: Opening Stock - Closing Stock = XXX
Work In Progress: Opening Stock - Closing Stock = XXX
Stock in Trade: Opening Stock - Closing Stock = XXX
Net Amount = As per Statement of P&L
Note: If Closing Stock > Opening Stock, the Net Negative Amount can be shown in brackets.
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