Explained well, Sir. I was just byhearting this concept but I was not able to understand the logic behind this untill I watched this. The initiative you took for teaching this basic thing is really appreciative as the advanced level is always the mastery of basics. Thank you so much sir❤
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If a company is not able to sell part of stock during the year it is shown as a credit in the income statement valued at the cost. But my question was is it a good thing for shareholders? Because it shows artifical inflation of profits
It is not artificial inflation, rather it is correct accounting. You can purchase any amount of items, but if you want to find out the profit, you have to compare the sales with cost of items purchased . Only then it will make sense for that profit. And unused stock will get carried over for the next period and then in that period it will get compared with the sales and profit can be calculated . If you don’t do this, then in the next period, when those unsold goods of the current year gets sold, there will be no comparable cost and in that period actually, the profit will get inflated
Thank you so much sir... Sir, I have a request Can you please explain a situation where opening stock exists and closing stock is higher than opening stock?
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Explained well, Sir. I was just byhearting this concept but I was not able to understand the logic behind this untill I watched this. The initiative you took for teaching this basic thing is really appreciative as the advanced level is always the mastery of basics. Thank you so much sir❤
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Thank you so much Sir. I had been grappling with this concept for sometime.You explained it so well. Hats off!
Understood sir... Very well explained..
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Thankyou.
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Great explanation sir - heads off sir
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Thank u sir for u r valuable information
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Very clear❤❤❤❤
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Explain very well
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Just one word WOW
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Useful info
Very good explanation
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Great 👍
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If a company is not able to sell part of stock during the year it is shown as a credit in the income statement valued at the cost. But my question was is it a good thing for shareholders? Because it shows artifical inflation of profits
It is not artificial inflation, rather it is correct accounting.
You can purchase any amount of items, but if you want to find out the profit, you have to compare the sales with cost of items purchased . Only then it will make sense for that profit.
And unused stock will get carried over for the next period and then in that period it will get compared with the sales and profit can be calculated .
If you don’t do this, then in the next period, when those unsold goods of the current year gets sold, there will be no comparable cost and in that period actually, the profit will get inflated
@carajaclasses thanks alot. Great explanation
Thank you so much sir...
Sir, I have a request
Can you please explain a situation where opening stock exists and closing stock is higher than opening stock?
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Great explain sir❤. Can u pls guide on impact of overhead in opening and closing inventory on profit and loss account.
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Thank you sir understood
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thank you sir
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Understood sir
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thank you so much
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Thankyou!
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Understood
Great
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great
understood
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Amazing class . Sir if the 80 units were bought at 150 Rs in Scenario 2 then will closing inventory be taken as per FIFO ?
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CA N Raja