Q. Accounting Treatment of Scrap generated while manufacturing

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Question added Aug 26, 2022 Ind AS By Hemant Garg, CA, Faridabad

Dear Concerned,

For a better presentation and reconciliation point of view what method for accounting for the sale of a scrap of raw material is used as per IND AS?

1. It is to be shown on the credit side of the manufacturing account. or

2. Amount deducted in the COGS.

Thanks

Hemant Garg

Concept by CA Pramod Jain

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