CA Preksha Choraria

Preksha ChorariaAS 2- Valuation of Inventories

ISSUE DATE JUNE,1981
EFFECTIVE DATE APRIL 1ST,1999
APPLICABILITY MANDATORY FOR ALL ENTERPRISE

OBJECTIVES:

A: CARRYING VALUE OF INVENTORY

B: NET REALIZABLE VALUE

1.

Meaning of Inventory

2. Specific exclusion:-

specific exclusion

3. CONTAINERS AND EMPTIES (NOT COVERED IN DEFINITION)

containers and and empties

4. CARRYING VALUE OF INVENTORIES OR MEASUREMENT OF INVENTORIES.

carrying value of inventories or measurement of Inventories

5. COST OF INVENTORY

Cost of Inventory

6. COST MEASUREMENT:-

cost measurment

7. NET REALIZABLE VALUE:-

Particulars Amount(Rs.)
Estimated Selling Price XX
Less: Estimated cost of completion (XX)
Less: Estimated selling expense (XX)

NRV

XX

8. DISCLOSURE:-

Disclosure

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3 responses to “AS 2- Valuation of Inventories”

  1. bhavin shah says:

    Nicely explain…
    All basics are properly presented… ??

  2. Vaibhav Chunduri says:

    Impressive…the charts makes it simple and easy to remember

  3. Vikram says:

    Nice presentation

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