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Valuation of Inventory and depreciation

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(Querist)
30 September 2008 dear all,


i have two queries
1) how is Inventory of Jewellery Valued and Disclosed in F/S.-is there any specific method apart form AS 2

2) How are live stock and animals valued , depreciated and disclosed?

( say a Co in hill station uses Horses or other cattle to Transport goods.
are these cattle a Fixed asset to the Co? if Yes how are these Fixed assets Depreciated? as AS6 does not cover live stocks? is there any other method applicable to live stock )
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
30 September 2008 1)Valued as per wealth tax rules.
2)Fair vale (value at which willing buyers and sellers exchange less selling costs)
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anmol

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anmol (Querist)
30 September 2008 dear all,


i have two queries
1) how is Inventory of Jewellery Valued and Disclosed in F/S.-is there any specific method apart form AS 2

2) How are live stock and animals valued , depreciated and disclosed?

( say a Co in hill station uses Horses or other cattle to Transport goods.
are these cattle a Fixed asset to the Co? if Yes how are these Fixed assets Depreciated? as AS6 does not cover live stocks? is there any other method applicable to live stock )
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
30 September 2008 The query has ben answered.

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