11-11-2003, 05:18 PM
Asalam o alaikum
But arent we going to value the closing stock (the 1000 metric giga super tones) at the closing rates, i.e. determine the NRV at the year end (which is usually the most recent price) and not the financial statement issue date ????????
or am I trying to act 'the king is naked?' (hope not)
one rationale I can give for this is that there is some degree of possibility to make the financial date more flexible to use and to use it to your possible benefits (of coure you cant control the prices but you can anticipate them for sure)
Me rulz
But arent we going to value the closing stock (the 1000 metric giga super tones) at the closing rates, i.e. determine the NRV at the year end (which is usually the most recent price) and not the financial statement issue date ????????
or am I trying to act 'the king is naked?' (hope not)
one rationale I can give for this is that there is some degree of possibility to make the financial date more flexible to use and to use it to your possible benefits (of coure you cant control the prices but you can anticipate them for sure)
Me rulz