Hi If i am a Broker, how should i value shares which are stock in trade??
And Which AS to apply??
Thanks in Advance
Share Valuation - As stock in Trade
CA Guru M (B.com, CA, CS) (1547 Points)
11 February 2010
Lalit
(accounts)
(195 Points)
Replied 11 February 2010
You should value shares at cost applying FIFO method or market rate, whichever is lower
sudhir rawal
(B.COM/PCC/ARTICLE/'O'LEVEL)
(314 Points)
Replied 11 February 2010
share is your stock-in-trade now it but it does not covered by as 2 because as per as 2 VALUATION OF INVENTORIES DOES NOT APPLICABLE ON FINANCIAL INSTRUMENT HELD AS STOCK-IN-TRADE (SHARES,DEBENTURES,BONDS, ETC). IT COULD BE COVERED IN AS 13 BUT I M NOT SURE FOR IT'S APPLICABILITY
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