03 November 2010
SIR, MY QUESTION IS HOW TO CONSOLIDATE CO A/CS AS PER ACCOUNTING STANDARD LAID DOWN BY ICAI?
SECOND QUESTION IS TO HOW TO CONSOLIDATE BRANCH ACCOUNTS WITHOUT SHOWING BRANCH BALANCES IN HO BALANCE SHEET?
THIRD QUESTION IS TO HOW TO DO VALUATION OF INVENTORIES AS PER ACCOUNTING STANDARD LAID DOWN BY ICAI IN CASE OF MFG COS.? AND CO IS LIABLE UNDER CENTRAL EXCISE.
I WOULD BE PLEASED, IF SAME WOULD BE EXPLAINED THRU CITING AN EXAMPLE IN EACH OF ABOVE CASES RATHER TO REFER ACCOUNTING STANDARD DIRECTLY.
03 November 2010
For 1st no one can tell shortly you need to read AS-21. no other alternative. if u have any specific incidence then any one can help us.
For Questn no.3 AS-2 which says cost or net realisable value which ever is low. AS-2 clearly explains what is cost and NRV.
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