Jayanta Bandyopadhyay (330 Points)
19 November 2024We are unlisted Public Ltd Company in cofee estate manufacture, process unit. Family owned business invests in Jewelleryt & precious stones. How to make valuation and show in balance sheet. Auditors simply go by cost basis
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(180088 Points)
Replied 19 November 2024
Make valuation from registered valuer.
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(5661 Points)
Replied 19 November 2024
1. Engage an independent valuer or appraiser who specializes in jewellery and precious stones.
2. Use the fair value method (market value) or historical cost method (cost basis).
3. Consider factors like market demand, rarity, and condition. Balance Sheet Disclosure:
1. Show the investment at fair value or historical cost in the balance sheet.
2. Disclose the valuation method and significant assumptions.
1. Provide the valuation report and supporting documents to your auditors.
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