Accountancy Forum
  • Accountancy
  • Forum Home
  • Members
  • Team
  • Help
  • Search
  • Register
  • Login
  • Home
  • Members
  • Help
  • Search
Accountancy Forum The Profession Accounting and Audit v
« Previous 1 … 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Next »
N R V ??? which price is to be taken??

 
  • 0 Vote(s) - 0 Average
N R V ??? which price is to be taken??
Pervez
Offline

Member

Posts: 90
Threads: 3
Joined: Jul 2003
Reputation: 0
#9
11-02-2003, 08:02 PM
Hi Zubair!

^I don't disagree with the principle that if NRV is lower than cost, we should use it as proper valuation. That is undisputed. My question was what value should it reflect? I was asserting that it should reflect the net value realizable at the balance sheet date rather than a past or a future realizable value. NRV is by its definition an estimate (you are determining value of a good that is not sold as yet). Therefore, you have to go with an assumed price(unless the co has a firm agreement and price is established in it). But it is the timing of estimate which is concern of mine. It should be NRV at balance sheet date not a future date when goods will actually be disposed off.

By the way Raza, since u have already decided to go with ur auditor, does this discussion matter to u or is it just an academic excercise?

Take care

« Next Oldest | Next Newest »

Users browsing this thread: 1 Guest(s)



Messages In This Thread
N R V ??? which price is to be taken?? - by smraza - 10-28-2003, 05:48 AM
[No subject] - by smraza - 11-01-2003, 06:10 AM
[No subject] - by zubair - 11-01-2003, 10:51 PM
[No subject] - by smraza - 11-02-2003, 07:27 AM
[No subject] - by Pervez - 11-02-2003, 08:11 AM
[No subject] - by zubair - 11-02-2003, 08:23 AM
[No subject] - by Pervez - 11-02-2003, 09:06 AM
[No subject] - by zubair - 11-02-2003, 02:15 PM
[No subject] - by Pervez - 11-02-2003, 08:02 PM
[No subject] - by smraza - 11-02-2003, 09:21 PM
[No subject] - by zubair - 11-02-2003, 10:48 PM
[No subject] - by zubair - 11-02-2003, 11:04 PM
[No subject] - by smraza - 11-03-2003, 06:46 AM
[No subject] - by Pervez - 11-03-2003, 08:04 AM
[No subject] - by zubair - 11-03-2003, 10:15 AM
[No subject] - by Pervez - 11-03-2003, 07:41 PM
[No subject] - by smraza - 11-03-2003, 10:03 PM
[No subject] - by zubair - 11-03-2003, 10:53 PM
[No subject] - by smraza - 11-04-2003, 06:47 AM
[No subject] - by zubair - 11-06-2003, 05:56 AM
[No subject] - by zubair - 11-06-2003, 06:04 AM
[No subject] - by smraza - 11-06-2003, 07:50 PM
[No subject] - by Paki - 11-11-2003, 05:18 PM
[No subject] - by smraza - 11-11-2003, 06:37 PM
[No subject] - by Paki - 11-20-2003, 01:04 AM
[No subject] - by smraza - 11-21-2003, 12:33 AM
[No subject] - by Paki - 11-27-2003, 07:12 PM
[No subject] - by zubair - 11-29-2003, 10:18 PM
[No subject] - by Javaid - 04-25-2004, 03:17 AM
[No subject] - by smraza - 04-26-2004, 06:12 PM
[No subject] - by Javaid - 04-29-2004, 06:34 AM

  • View a Printable Version
  • Subscribe to this thread
Forum Jump:

© 2002-2024 Accountancy. Copyrights of all content on this web site are owned by Accountancy except where indicated in source or copyright statements. Accountancy must be contacted for permission to copy or redistribute any material published on this website.

Linear Mode
Threaded Mode