FINANCIAL AND LEGAL NOTES

Abstract

Stock Valuation Methods of stock valuation used in the preparation of commercial profit and loss accounts have proved to be a frequent cause of dispute between taxpayers and the Inland Revenue. Indeed, the difficulty of applying standard valuation methods to every type of commercial undertaking is highlighted by the recent House of Lords decision in B.S.C. Footwear Ltd. v. Ridgway (Inspector of Taxes)—a decision which produced a dissenting opinion from two of the five law lords who heard the appeal.

Citation

Goch, D. (1971), "FINANCIAL AND LEGAL NOTES", Management Decision, Vol. 9 No. 2, pp. 133-139. https://doi.org/10.1108/eb000963