AS 2

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Subrahmanyam (Querist)
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03 November 2009 ICAI does not recognise LIFO, isthere any specific reason for the same..

Subrahmanyam (Querist)
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07 November 2009 Any answers...boss?

Guest

Guest (Expert)

09 November 2009 In Case of Lifo, Profit is recognized excess.

It means recognition of unrealized profit.

Subrahmanyam (Querist)
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16 November 2009 Not necessarily if the prices show an increasing trend...i believe..

CA Ravi Sisodia (Expert)
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16 November 2009 LIFO method have some weekness. yes you are wright LIFO Method may reduce a profit in case of increasing in prices.

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