17 August 2010
All of the above will constitute as inventories. a. finished goods for sale b. raw material for production c. spares or consumables for services d. shares held for share trading. shares held as investment will not constitute inventories but will be accounted as investments
19 August 2010
Stock for services can be catalogues that you have to be given to your prospective customers, stationery (usually banks have large quatity of stationery), sometimes CDs are made for circulation etc. It depends whether you want to expense out these items or show them in stock and expense out on consumption basis. If the quantity is very large, then it has to be taken in stock.
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