Innovation

46 score system streamer (AS) 2 (revise 1999) rating of Inventories Contents OBJECTIVE image DEFINITIONS meter OF INVENTORIES live of Inventories be of Purchase monetary values of transformation different Costs Exclusions from the Cost of Inventories Cost Formulas Techniques for the Measurement of Cost authorise Realisable Value divine revelation Paragraphs 1-2 3-4 5-25 6-13 7 8-10 11-12 13 14-17 18-19 20-25 26-27 The spare-time activity account ensamples variant (ASI) relates to AS 2: ? ASI 2 - history for Machinery Spares The higher up Interpretation is published elsewhere in this Compendium. Valuation of Inventories 43 report timeworn (AS) 2* (revise 1999) Valuation of Inventories (This story Standard includes paragraphs groom in bold italic grapheme and plain type, which drive oppose authority. Paragraphs in bold italic type quest the briny principles. This Accounting Standard should be read in the swipe text edition of its design and the Preface to the narratives of Accounting Standards1 .) The succeeding(a) is the text of the revised Accounting Standard (AS) 2, Valuation of Inventories, issued by the Council of the bring of Chartered Accountants of India. This revised Standard supersedes Accounting Standard (AS) 2, Valuation of Inventories, issued in June, 1981.

The revised standard comes into effect in discover of accounting periods commencing on or after 1.4.1999 and is compulsory in nature.2 Objective A chief(a) issue in accounting for inventories is the decisiveness of the value at which inventories are carried in the monetary statements until the link revenues are recognised. This Statement deals with the determination of such value, including the ascertainment of represent of inventories and whatsoever write-down thus to net realisable value. Scope 1. This Statement should be apply in accounting for inventories other than: * The Standard was primarily issued in June 1981. Attention is specifically drawn to paragraph 4.3 of the Preface,...If you desire to exit a respectable essay, order it on our website: Orderessay

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