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Depreciation in Stock

Tim Ambrose, Past President of the CIOT, discusses the Scottish Court of Session finding against William Grant & Sons Distillers Ltd by 2-1, now going on to the House of Lords for finality

 
Tim Ambrose Past President of the CIOT discusses the Scottish Court of Session finding against William Grant & Sons Distillers Ltd by 2-1 now going on to the House of Lords for finality
 
Six legally qualified Judges or Special Commissioners have now considered the question of the correct amount to be 'added back' to accounting profit in respect of depreciation when the cost of a company's stock or work in progress on hand at the year end contains some of that depreciation as an element of its cost. Although this accounting treatment is fully in accordance with and required...

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