Hi If i am a Broker, how should i value shares which are stock in trade??
And Which AS to apply??
Thanks in Advance
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Share Valuation - As stock in Trade
Replies (2)
You should value shares at cost applying FIFO method or market rate, whichever is lower
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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