Lalit
(accounts)
(195 Points)
Replied 11 February 2010
You should value shares at cost applying FIFO method or market rate, whichever is lower
sudhir rawal
(B.COM/PCC/ARTICLE/'O'LEVEL)
(314 Points)
Replied 11 February 2010
share is your stock-in-trade now it but it does not covered by as 2 because as per as 2 VALUATION OF INVENTORIES DOES NOT APPLICABLE ON FINANCIAL INSTRUMENT HELD AS STOCK-IN-TRADE (SHARES,DEBENTURES,BONDS, ETC). IT COULD BE COVERED IN AS 13 BUT I M NOT SURE FOR IT'S APPLICABILITY
CAclubindia
