SSAP 9: Stocks and Long Term Contracts
13 September 2012
SSAP 9 considers the valuation of stocks, work in progress, and the presentation of these items in financial statement. Andrew Harrington explains
SSAP 9 has been around since 1975 (with a couple of revisions), and seems unlikely to be replaced in the immediate future. It considers the valuation of stocks and work in progress, and the presentation of these items in the financial statements.
So why account for stock in the first place? Remember that closing stock appears in two places in the financial...