Indian Accounting Standard on Inventory agrees with the following: (a) When an entity purchases inventories on deferred
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Indian Accounting Standard on Inventory agrees with the following:
(a) When an entity purchases inventories on deferred payment terms then effective financing element ought to be recognized as inventoriable costs over the period of the financing.
(b) When an entity purchases inventories on deferred payment terms then effective financing element ought to be recognized as interest expense over the period of the financing.
(c) The inventory of service provider is to be expensed out directly.
(d) The inventory of service provider is to be not measured.
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Related Book For 
Financial Accounting For Management
ISBN: 9789385965661
4th Edition
Authors: Neelakantan Ramachandran, Ram Kumar Kakani
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