As regards the stock valuation
Difference between closing stock is recognised as difference. Credits represent cl stk credited to the P&L
Under FIFO the last purchases remain outstanding & hence value is more whereas in LIFO it d b the opposite.
Say for 2nd yr, cl stk as per FIFO is 131 & as per LIFO is 21. The difference in profit of 110 is considered for FMP due to method change as that is the extent of excess credit to P&L attributable to the method change.
As regards the stock valuation
Difference between closing stock is recognised as difference. Credits represent cl stk credited to the P&L
Under FIFO the last purchases remain outstanding & hence value is more whereas in LIFO it d b the opposite.
Say for 2nd yr, cl stk as per FIFO is 131 & as per LIFO is 21. The difference in profit of 110 is considered for FMP due to method change as that is the extent of excess credit to P&L attributable to the method change.
| Originally posted by : sonia | ||
 |
hi the attached company and other pdf documents are not opening can u pls forward to my mail id: sonia.exepro @ hotmail.com please ... i need them thanks sonia |
 |
Dear Sonia,
Dont' worry just download latest Reader Link provided below
thanks for sharing these valuable materials
| Originally posted by : Venkatesh Repala | ||
|
|
thanks for sharing these valuable materials |
|
thanks for the comment jee
hi suresh
this is sonia
i downloaded and installed the pdf link that you have given
still not able to download
can u pls forward to my mail id: sonia.exepro @ hotmail.com
thanks and regards
sonia
CAclubindia
