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Inventory

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(Querist)
10 July 2013 SIR

IF INVENTORY IS STOLEN THEN HOW TO BOOK THAT DIFFERENCE IN PROFIT AND LOSS ACCOUNT. GIVE REFERENCE ABOUT THE ACCOUNTING STANDARD.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
11 July 2013 It can be accounted as abnormal stock loss to the extent of Insurance claim receivable

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