SSAP 9 and Stock Valuation
13 September 2012
Trainee Accounting Technicians at both the Intermediate and Technician stages need a knowledge of stocks in SSAP 9.
SSAP 9 (statement of standard accounting practice) - deals with stocks and long-term contracts, but the concept of long-term contracts are not relevant at this level of study. The standard provides details on the accounting treatment of stocks (inventories).
When determining profit for an accounting period, costs are allocated for that period. Part of this...