Properties as closing stock

Properties as closing stock

Didn't find your answer?

Company trading in properties i.e buying and selling properties. As we all know that the properties market is in the down turn how should the closing stock of properties be stated in the accounts. At cost/purchase price of the property or the market value at the year end date or the current market value.

Raavi

Replies (1)

Please login or register to join the discussion.

avatar
By finer
12th Aug 2008 13:45

Property valuation
The properties should be valued at the lower of cost or valuation at the balance sheet date.

Thanks (0)