10 August 2009
The closing stock is valued at NRV or cost w.e.l. In this situation the assesse has adopted the NRV since it is less than cost. How will he show the details of Loss on Revaluation in the Closing Stock Statement which he will certify and give to his auditor. I want to know how exactly the Closing stock Statement will be and how the details must be presented in it.
CAclubindia
