TAXATION and FINANCE

Abstract

VALUATION OF TRADING STOCKS The basis of valuation used by a company for valuing its trading stocks when it is preparing its annual accounts is a matter of concern not only to its auditors, who are responsible for reporting to the shareholders on the state of its financial affairs, but also to the Inland Revenue authorities, who rely on the accuracy of these accounts when they are assessing its liability to taxation.

Citation

GOCH, D. (1969), "TAXATION and FINANCE", Management Decision, Vol. 3 No. 2, pp. 48-50. https://doi.org/10.1108/eb000896