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AS 2- Valuation of Inventories

CA Preksha Choraria

AS 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.

2. Specific exclusion:-

3. CONTAINERS AND EMPTIES (NOT COVERED IN DEFINITION)

4. CARRYING VALUE OF INVENTORIES OR MEASUREMENT OF INVENTORIES.

5. COST OF INVENTORY

6. COST MEASUREMENT:-

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:-

Categories: CA, CS, CMA

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