+- Accountancy Forum (https://www.accountancy.com.pk/forum)
+-- Forum: The Profession (https://www.accountancy.com.pk/forum/forum-the-profession)
+--- Forum: Accounting and Audit (https://www.accountancy.com.pk/forum/forum-accounting-and-audit)
+--- Thread: is the NRV used in income statement (/thread-is-the-nrv-used-in-income-statement)
is the NRV used in income statement - barbarianlee - 05-11-2005
The NRV concept is usually used to value the inventory in the balance sheet, I am just wondering whether it can also used in income statement, any chance?
[D][D][D][D][D][D][D]
- smraza - 05-11-2005
The second effect of change in value of inventory is obviously to the income statement.
SMR
- maani - 05-12-2005
yeah definitely...You have to use the same values in both statements...
Ace