on 09-24-2008 11:03 AM
Can Provision be considered for consumption of item in next / previous financial year after closing of current financial year for store
Hi, Yes. You can allow negative stocking for material and thereby consumption can be carried out to the Production. For balance sheet purpose, necessary journal entries can be made for provision but I am of the view that Auditors may object to this. Trust this helps much! Cheers!
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