AS-2 deals with Inventories but excludes inventors in form of shares held as stock in trade and AS-13 deals with Investments which is not stock in trade.
would like the learned members of this forum to guide me how the stock in trade is to be accounted for in books of accounts. Last year in books of accounts, it was shown as cost, but to my knowledge it has to be either at cost of fair market value as on 31st March whichever is lower.
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CAclubindia
