Balance sheet evaluation

Dear All,
1) May I know balance sheet evaluation monthly activity will be reversed whereas year end will not be reversed? The practice is just like F101 balance sheet evaluation on open item?
2) Also the balance sheet currency only in local currency or can be in foreign currency.
3) what will be the impact if not run balance sheet evaluation?
Thanks

Hi,
There is no taker for this thread. Let me try to gain some points.
1) It denotes stock valuation. Stocks have to be valuated at the time of preparation of balance sheet as per accounting standard which says the stocks should be valued either at cost or market value whichever is lower.
2) Hence, for the case of inhouse manufactured product, the actual cost shall be taken. The actual cost is arrived by adding the per unit average variance for the whole year plus standard cost estimate.
3) This exercise shall be done once in a year as on the date of balance sheet.
4) Query not clear. Anyway, let me try.  As per accounting standard, the actual cost of the inhouse manufactured materials are arrived at by suming up per unit variance plus standard cost estimate.
Trust this helps much!
Cheers!
Edited by: Ashok Singh on Oct 14, 2008 9:58 PM
Edited by: Ashok Singh on Oct 14, 2008 9:59 PM

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