Accounting Standard 2 deals with the valuation of inventories and the determination of cost. It provides guidelines on measuring inventories at the lower of cost or net realizable value. Cost includes all costs to bring inventories to their present location and condition, such as purchase cost, conversion cost, and other attributable costs. Cost formulas like FIFO, weighted average, or standard cost can be used and must be applied consistently. Certain costs like abnormal amounts or selling costs are excluded from the valuation. Disclosures around accounting policies and total inventory carrying amounts are also required.
The accounting policies adopted in measuring inventories, including the cost formula used.
The total carrying amount of inventories & its classification appropriate to the enterprise.
disclosure of AS2
The accounting policies adopted in measuring inventories, including the cost formula used.
The total carrying amount of inventories & its classification appropriate to the enterprise.
disclosure of AS2
A presentation on Property, Plant & Equipment (PPE)-IAS 16, Prepared by a few students of Dept. of Accounting & Info. Systems, Jahangirnagar University, Savar, Dhaka
A presentation on Property, Plant & Equipment (PPE)-IAS 16, Prepared by a few students of Dept. of Accounting & Info. Systems, Jahangirnagar University, Savar, Dhaka
If any of the above conditions is not satisfied, PPE cannot be recorded.
Above recognition, the principle is to be applied to the ‘Initial’ recognition of PPE and
‘Subsequent’ recognition.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
Understanding how timely GST payments influence a lender's decision to approve loans, this topic explores the correlation between GST compliance and creditworthiness. It highlights how consistent GST payments can enhance a business's financial credibility, potentially leading to higher chances of loan approval.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the what'sapp contact of my personal pi vendor
+12349014282
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the what'sapp information for my personal pi vendor.
+12349014282
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
Here the what'sapp contact of my personal vendor.
+12349014282
#pi network #pi coins #legit #passive income
#US
^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...mayaclinic18
Whatsapp (+971581248768) Buy Abortion Pills In Dubai/ Qatar/Kuwait/Doha/Abu Dhabi/Alain/RAK City/Satwa/Al Ain/Abortion Pills For Sale In Qatar, Doha. Abu az Zuluf. Abu Thaylah. Ad Dawhah al Jadidah. Al Arish, Al Bida ash Sharqiyah, Al Ghanim, Al Ghuwariyah, Qatari, Abu Dhabi, Dubai.. WHATSAPP +971)581248768 Abortion Pills / Cytotec Tablets Available in Dubai, Sharjah, Abudhabi, Ajman, Alain, Fujeira, Ras Al Khaima, Umm Al Quwain., UAE, buy cytotec in Dubai– Where I can buy abortion pills in Dubai,+971582071918where I can buy abortion pills in Abudhabi +971)581248768 , where I can buy abortion pills in Sharjah,+97158207191 8where I can buy abortion pills in Ajman, +971)581248768 where I can buy abortion pills in Umm al Quwain +971)581248768 , where I can buy abortion pills in Fujairah +971)581248768 , where I can buy abortion pills in Ras al Khaimah +971)581248768 , where I can buy abortion pills in Alain+971)581248768 , where I can buy abortion pills in UAE +971)581248768 we are providing cytotec 200mg abortion pill in dubai, uae.Medication abortion offers an alternative to Surgical Abortion for women in the early weeks of pregnancy. Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the what's app number of my personal pi vendor to trade with.
+12349014282
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
2. Accounting Standard-2 deals with:
• Determination of value at which inventories
are carried in Financial Statements,
• Ascertainment of cost,
• Situation in which carrying cost of inventories
is written below cost.
3. Scope Other than
• WIP arising under construction contracts (AS –
7)
• WIP arising in ordinary course of business of
service provider (AS – 9)
• Shares debentures and other financial
instruments held as stock in trade (AS – 13 / 30)
• Inventories of livestock, agricultural forest
product, mineral oil ores and gases valued at
NRV as per estabilished practices in those
industries
4. Inventories are assets:
• held for sale in ordinary course of business,
• in the process of production for such sale,or
• in the form of material or supplies to be
consumed in the production process or in the
rendering of services.
5. Measurement: Inventories should be valued at
lower of Cost and Net realizable value.
Net Realizable Value =
Estimated selling price – Estimated cost
necessary to make sale.
6. Cost of Inventories: These include all cost of
purchase, cost of conversion and other cost
incurred in bringing the inventories to their present
location and condition.
But does not include:
i) abnormal amount,
ii) storage cost unless necessary in the
production,
iii) administrative overhead,
iv) selling and distribution cost.
7. • Cost of Purchase: Purchase price net of Trade
discount, Rebate, + duties & Taxes (non-
cenvatable) + freight, any other cost attributable
to acquisition.
• Cost of conversion: include cost directly related
to unit of production i.e. variable overhead,
allocable fixed overhead.
• Variable Overheads are to be allocated on the
basis of actual production.
• Fixed Overheads are to be allocated on the
basis of normal production.
8. Joint Product and By Product
• Joint Product: If cost is separately identifiable
then on actual basis or else on rational basis i.e.
sales value at the time when product becomes
separately identifiable or at completion of
product.
• By Product / scrap / waste: It is normally
measure at NRV and this value is deducted from
the cost of main product.
9. Cost Formula: Valuation of inventories
depend on cost formula used by entity:
a) Specific identification method,
b) FIFO,
c) Weighted Average,
d) Standard Cost,
e) Retail Method (for retail trader).
10. • Application of formula: Cost formula is
applied item by item.
• Inventories are not written down below
cost if finished product of such inventory
are expected to be sold at above cost.
11. Disclosure:
• Accounting policy adopted in measuring
including cost formula used,
• Total carrying cost of inventories and its
classification.
12. Expert Opinion on determination of
Normal Capacity and Fixed Over heads
• Case referred to is of PSU controlled by Ministry of
Steel.
• Before 31.12.2005 company was producing 7.5 MT of
concentrate per year and 3 MT of pelletisation per year
from their mines and plants.
• After SC judgement the company had to shutdown it
mines and its activities were restricted only to producing
pellets by procuring ores from outside source.
• Company allocated the FOH based on actual production
for the financial year adjusted to the average production
of last five years.
13. Expert Opinion on determination of Normal
Capacity and Fixed Over heads
• Company considered following expenses in Fixed
overhead in Valuation of Inventories:
– General Expenses : Expenditure on township maintenance and
healthcare, Printing & Stationery, Books & periodicals,
conveyance, training, legal, consultancy, courier, freight and
other office expenses.
– Tender notice & advertisement: for hiring various services &
procurement of material
– Other Income: Interest on Loans & advances given to the
employees.
In 2010-11 CAG expressed its opinion that company should
reassess its normal capacity for valuation of Inventory further it
should also exclude the above expense.
14. Opinion Given by Expert Committee
• The normal capacity may be determined at the average of
production of last 5 years provided it approximates the production
expected to be achieved in the future periods also. However, if there
are significant changes in circumstances,then such an estimation
would not be appropriate. In such a situation, budgeted production
should also be considered for determining normal capacity.
• The staff welfare expenditure to the extent these are used by the
employees of factory/production unit who render their services in
relation to production activities, should be considered for inclusion in
the cost of inventories
• Tender notice advertisement expenses cannot be included in the
cost of inventories as these expenses relates to cost prior to
procurement of inventories.
• Regards interest income recovered from the employees, the
Committee is of the view that these are part of ‘other income’ and,
therefore, should not be adjusted in the cost of inventories.