FG Stock Revaluation through MR21?

[Former Member]

Dear All,

Without new Standard Cost estimation release, can we revaluate the FG with the posted Variance in the system through MR21.

We have production only four months in a year, so to get the actual cost of stock valuation.. is it suggestible (Since revaluation entry is required in the same month to prepare the exact profit and loss statement with closing stock )

In India do we have any audit issues if cost estimation is deleted.. and revaluated with MR21?

Kindly suggest..

Regards,

Anil

[former_member182339 · Accepted solution]

Hi Anil,

Yes technically you can do it through MR21. Yes Any standard is changed during the period is always questionable by the Auditors.

Best Regards

Hrusikesh