13 September 2011
is it really important to value the shares held as stock in trade as per fifo basis for determining cost or market value whichever is lower????
13 September 2011
Now a days when shares are held in demat form they are delivered on FIFO basis only and hence valuation of shares should also be on FIFO method.
Valuation should be cost or market value whichever is less though there is no specific accounting standard for that and is taken as current investment as per AS - 13.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
13 September 2011
sir, please explain in the respect of stock in trade??
CAclubindia
