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Regarding increase and decrease in stock

P. Shah (Accountant) (207 Points)

18 November 2018

Please can anyone clear my full concept. Why it shown increase or decrease in stock in income statement.

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Mayur Patil (Article) (1276 Points)
Replied 18 November 2018

Income statement means are you talking about p&l of sch-3?

In vertical trading a/c opening stock disclosed on the dr side and closing we've to disclosed on cr side.
So, to give this effect on horizontal p&l of sch-3 we've to disclose changes in inventory. Which shows effect of opening and closing stock.

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P. Shah (Accountant) (207 Points)
Replied 18 November 2018

Yes sch 3
This working is for finished goods only

Mayur Patil (Article) (1276 Points)
Replied 18 November 2018

Nope, its also for FG, WIP and raw material

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P. Shah (Accountant) (207 Points)
Replied 18 November 2018

OK will check it. Thnx

Prakash Gehani (Consultant & Teacher(Whatsapp 8718057907)) (1306 Points)
Replied 04 December 2018

No change in inventory is not for raw material. It is for FG and WIP

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P. Shah (Accountant) (207 Points)
Replied 04 December 2018

Thanks Prakash. I agree with you.

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