Departmental accounts


21 October 2017 Why is INCREASE IN STOCK used for calculation of stock reserve and not CLOSING STOCK in some cases?

21 October 2017 Commonly it's using for showing Profit. Also bank process....

21 October 2017 depends on whether profit is included or not. normally profit is included in opening stock as closing stock of previous year becomes opening stock of next year. regarding closing stock of current year it depends on whether it is valued at cost or loaded price, if its valued at loaded price then reserve is shown separately


21 October 2017 Dear Sir., Opening stock ll be calculate as expenditure account.... Closing stock is also calculated in Income account... Please correct me if I'm wrong...!

21 October 2017 Sir, so do we use INCREASE IN STOCK when there is no profit element in both opening and closing stock?

21 October 2017 If you increase the stock automatically increase your profit portion...

22 October 2017 Sir, what I was asking was the case of unrealized profit.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries