ssap 9 - closing stocks

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:08AM in AAT student discussion
Hi<BR><BR>Please could someone help me with the following question:<BR><BR>''Explain how SSAP 9 requires overheads to be treated in the valuation of closing stocks.''<BR><BR>I have searched for 'SSAP 9' on google but it comes up with so much rubbish to search through and can't find anything in my notes!<BR><BR><BR>Cheers x

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    ssap 9 - closing stocks

    Hi,<BR><BR>Have you tried this website?<BR><BR>www.asb.org.uk - accounting standards board?<BR><BR>It might be of some help<BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ssap 9 - closing stocks

    All I know is that ssap 9 states that stock should be valued at lower of cost and Net realisable value.<BR>Hope this helps!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ssap 9 - closing stocks

    O/heads s/be included in stock, based upon normal production. Think fixed o/head absorption rates.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    ssap 9 - closing stocks

    hi there is it anything to do with absorption costing as the overheads are charged to the P & L when the goods are sold so they have to be included in the closing stock value??

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