{"id":2513,"date":"2019-09-28T06:09:40","date_gmt":"2019-09-28T06:09:40","guid":{"rendered":"https:\/\/commerceiets.com\/?p=2513"},"modified":"2019-09-28T06:09:40","modified_gmt":"2019-09-28T06:09:40","slug":"treatment-of-loss-on-consignment","status":"publish","type":"post","link":"https:\/\/commerceiets.com\/treatment-of-loss-on-consignment\/","title":{"rendered":"TREATMENT OF LOSS ON CONSIGNMENT"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/commerceiets.com\/treatment-of-loss-on-consignment\/#TREATMENT_OF_LOSS_ON_CONSIGNMENT\" title=\"TREATMENT OF LOSS ON CONSIGNMENT\">TREATMENT OF LOSS ON CONSIGNMENT<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/commerceiets.com\/treatment-of-loss-on-consignment\/#ACCOUNTING_FOR_NORMAL_LOSS\" title=\"ACCOUNTING FOR NORMAL LOSS\">ACCOUNTING FOR NORMAL LOSS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/commerceiets.com\/treatment-of-loss-on-consignment\/#ACCOUNTING_FOR_ABNORMAL_LOSS\" title=\"ACCOUNTING FOR ABNORMAL LOSS\">ACCOUNTING FOR ABNORMAL LOSS<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"TREATMENT_OF_LOSS_ON_CONSIGNMENT\"><\/span><strong>TREATMENT OF LOSS ON CONSIGNMENT<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"has-medium-font-size\">In <a rel=\"noreferrer noopener\" aria-label=\"consignment (opens in a new tab)\" href=\"https:\/\/commerceiets.com\/consignment\/\" target=\"_blank\">consignment<\/a>, the goods are to be sent from one place to the other. There is always a possibility of some kind of loss of stock. The consignor has to bear the loss, not the consignee. The Treatment of loss on consignment is for two types of losses:<\/p>\n\n\n\n<ul><li>NORMAL LOSS<\/li><li>ABNORMAL LOSS<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"259\" height=\"194\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2022\/01\/download-31.png\" alt=\"Treatment of loss on consignment\" class=\"wp-image-4631\"\/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"ACCOUNTING_FOR_NORMAL_LOSS\"><\/span>ACCOUNTING FOR NORMAL LOSS<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"has-medium-font-size\">Normal loss is the loss that occurs due to the nature of the\ngoods consigned. Its nature is as follows:<\/p>\n\n\n\n<ul><li>It occurs due to unavoidable reasons.<\/li><li>It is due to natural causes such as losses due\nto evaporation, normal leakage, spoilage, breakdown, drying etc.<\/li><li>It forms the part of cost of goods sold.<\/li><li>It is taken into account only when unsold stock\nis to be valued.<\/li><li>It is not shown in the consignment account.<\/li><li>No entry is passed in the books regarding the\nnormal loss.<\/li><\/ul>\n\n\n\n<p class=\"has-medium-font-size\"><strong>CALCULATION<\/strong><\/p>\n\n\n\n<p class=\"has-pale-cyan-blue-background-color has-background has-medium-font-size\"><strong>Value of unsold stock= {Total cost of goods consigned\/ (Total Quantity sent-quantity of normal loss)}*Unsold Quantity<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>EXAMPLE:<\/strong> Suppose 200 tons of coal is consigned @ Rs. 20 per ton, expenses being Rs. 400. If loss due to loading and unloading is 10 tons and if the quantity sold by the consignee is 152 tons, then the value of stock unsold (38 tons) will be as follows:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>\n  Cost of 200 tons of coal\n  <\/td><td>\n  4,000\n  <\/td><\/tr><tr><td>\n  ADD: Expenses\n  <\/td><td>\n  400\n  <\/td><\/tr><tr><td>\n  <strong>Total cost of 200 tons<\/strong>\n  <\/td><td>\n  <strong>4,400<\/strong>\n  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-medium-font-size\">The cost of 200 tons becomes the cost of 190 tons because of\na normal loss of 10 tons.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Hence the cost of 190 tons= Rs. 4,400<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Value of 38 tons of stock= (4,400\/190)*38= Rs. 880<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"ACCOUNTING_FOR_ABNORMAL_LOSS\"><\/span>ACCOUNTING FOR ABNORMAL LOSS<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"has-medium-font-size\">Abnormal Loss may arise due to mishap, mischief and\ninefficiency. This loss is not natural and can be avoided with proper care. Its\nnature is as follows:<\/p>\n\n\n\n<ul><li>It is unnatural and avoidable.<\/li><li>It arises due to reasons like fire, riot, flood,\ntheft, road accident etc.<\/li><li>In case of abnormal loss, the value of stock is\nnot inflated.<\/li><li>It is calculated after taking into consideration\nthe proportionate expenses incurred on it.<\/li><\/ul>\n\n\n\n<p class=\"has-medium-font-size\"><strong>JOURNAL ENTRIES <\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>WHEN GOODS ARE INSURED<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>   When abnormal loss is incurred   <br \/><\/strong>Abnormal loss account Dr.<br \/>   &nbsp;&nbsp;&nbsp;&nbsp; To consignment account   <\/td><\/tr><tr><td><strong>   When insurance company admits the claim   <br \/><\/strong>Insurance claim account Dr.   <br \/>Profit and Loss Account Dr.<br \/>   &nbsp;&nbsp;&nbsp; To Abnormal Loss Account.   <\/td><\/tr><tr><td><strong>   Receipt of Insurance Claim<br \/><\/strong>Bank A\/c&nbsp;&nbsp;&nbsp; Dr.<br \/>   &nbsp;&nbsp;&nbsp;&nbsp; To Insurance company A\/c   or Insurance Claim A\/c   <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-medium-font-size\"><strong>WHEN GOODS ARE NOT INSURED<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>   When abnormal loss is incurred   <br \/><\/strong>Abnormal loss account Dr.<br \/>   &nbsp;&nbsp;&nbsp;&nbsp; To consignment account   <\/td><\/tr><tr><td><strong>   Transfer of abnormal loss   <br \/><\/strong>Profit and loss account Dr.<br \/>   &nbsp;&nbsp;&nbsp;&nbsp; To abnormal loss account   <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-medium-font-size\"><strong>CALCULATION OF ABNORMAL LOSS<\/strong><\/p>\n\n\n\n<p class=\"has-text-align-center has-medium-font-size\"><strong>STATEMENT SHOWING CALCULATION OF ABNORMAL LOSS DURING TRANSIT<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>\n  <strong>PARTICULARS<\/strong>\n  <\/td><td><strong>AMOUNT<\/strong>   <\/td><\/tr><tr><td>   Cost price of goods lost in transit   <\/td><td>\n  &nbsp;\n  <\/td><\/tr><tr><td><strong>   ADD:<\/strong>   Consignor\u2019s proportionate expenses   (Consignor\u2019s total expenses\/   total units sent)*units lost   <\/td><td>\n  &nbsp;\n  <\/td><\/tr><tr><td>\n  Cost of abnormal loss during transit (A+B)\n  <\/td><td>\n  &nbsp;\n  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-text-align-center has-medium-font-size\"><strong>STATEMENT SHOWING CALCULATION OF ABNORMAL LOSS IN CONSIGNEE\u2019S GODOWN<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>\n  <strong>PARTICULARS<\/strong>\n  <\/td><td>\n  <strong>AMOUNT<\/strong>\n  <\/td><\/tr><tr><td>\n  Cost price of goods lost in consignee\u2019s godown\n  <\/td><td>\n  &nbsp;\n  <\/td><\/tr><tr><td>   <strong>ADD:<\/strong>   Consignor\u2019s proportionate expenses   (Consignor\u2019s total expenses\/   total units sent)* Units lost.   <\/td><td>\n  &nbsp;\n  <\/td><\/tr><tr><td>   <strong>ADD:<\/strong>   Consignee\u2019s proportionate non-recurring expenses   (Consignor\u2019s total   non-recurring expenses\/ Total units received by consignee)*Units lost   <\/td><td>\n  &nbsp;\n  <\/td><\/tr><tr><td>\n  Cost of Abnormal loss in consignee\u2019s godown\n  (A+B+C)\n  <\/td><td>\n  &nbsp;\n  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-text-align-center has-medium-font-size\"><strong>STOCK VALUATION IN CASE OF LOSS<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">Value of the remaining stock is composed of the following:<\/p>\n\n\n\n<ol><li>Proportion of the cost of goods.<\/li><li>Expenses incurred on goods before the occurrence\nof loss.<\/li><li>Expenses incurred on goods after the loss has\noccurred.<\/li><\/ol>\n\n\n\n<p class=\"has-text-align-center has-medium-font-size\"><strong>(Closing Stock\/ Total Cost)*(Cost of goods+ expenses before loss)<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>EXAMPLE:<\/strong> X consigned 100 cycles costing Rs. 150 each to his agent Y. Expenses incurred in sending them were Rs. 1,000. On the way 5 cycles were damaged. Y took the delivery of the rest and&nbsp; incurred direct expenses of Rs. 285 and indirect expenses of Rs. 150. Calculate the amount of abnormal loss.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>\n  Cost Price of 5 damaged cycles @ Rs. 150 each\n  <\/td><td>\n  750\n  <\/td><\/tr><tr><td>   <strong>ADD:<\/strong> Proportionate expenses of X    (1,000\/100)*5   <\/td><td>\n  50\n  <\/td><\/tr><tr><td>\n  &nbsp;\n  <\/td><td>\n  800\n  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Also Study<\/strong><\/td><td><strong>Also Study<\/strong><\/td><td><strong>Also Study<\/strong><\/td><td><strong>Also Study<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting\/\"><strong>Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/non-profit-organisation\/\"><strong>Non profit organisation<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/depreciation\/\"><strong>Depreciation<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/liquidity-ratios-types\/\"><strong>Liquidity ratios<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/nature-of-accounting\/\"><strong>Nature of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/receipt-and-payment-account-pdf\/\"><strong>Receipts and Payments Account<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/depreciation-accounting\/\"><strong>Depreciation Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/acid-test-ratio-formula\/\"><strong>Acid Test Ratio<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/benefits-of-accounting\/\"><strong>Benefits of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/scope-of-accounting\/\"><strong>Scope of accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/hire-purchase-accounting-notes-pdf\/\"><strong>Hire Purchase Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/cash-ratio\/\"><strong>Cash Ratio<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/difference-between-cost-accounting-and-financial-accounting\/\"><strong>Difference between cost accounting and financial accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-financial-accounting-management-accounting-and-cost-accounting\/\"><strong>Financial accounting, cost accounting and management accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-hire-purchase-and-instalment\/\"><strong>Difference between hire purchase and instalment system<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/financial-ratio-analysis\/\"><strong>Financial ratio analysis<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/difference-between-transaction-and-event\/\"><strong>Difference between transaction and event<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/transactions\/\"><strong>Transactions<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/users-of-accounting\/\"><strong>Users of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/current-ratio-formula\/\"><strong>Ratio analysis<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/limitations-of-accounting-2\/\"><strong>Limitation of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/capital-expenditure\/\"><strong>Capital Expenditure<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/instalment-system\/\"><strong>Instalment System<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-consignment-and-sale\/\"><strong>Difference between consignment and sale<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/book-keeping\/\"><strong>Book Keeping<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/revenue-expenditure\/\"><strong>Revenue Expenditure<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/reserves-accounting\/\"><strong>Reserves Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-normal-and-abnormal-loss\/\"><strong>Abnormal loss vs normal loss in consignment<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accountancy\/\"><strong>Accountancy<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-capital-expenditure-and-revenue-expenditure\/\"><strong>Difference between capital and revenue expenditure<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/reserves-accounting\/\"><strong>Provisions&nbsp;<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/treatment-of-loss-on-consignment\/\"><strong>Treatment of loss on consignment<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-is-an-art-or-science\/\"><strong>Accounting as science or an art<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/accounting-equation\/\"><strong>Accounting Equation<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/single-entry-system-in-accounting\/\"><strong>Single entry system<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/accounting-treatment-of-consignment\/\"><strong>Accounting treatment of consignment<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-is-an-art-or-science\/\"><strong>Book Keeping vs accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/deferred-revenue-expenditure\/\"><strong>Deferred Revenue Expenditure<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/statement-of-affairs-and-balance-sheet-difference\/\"><strong>Difference between statement of affairs and balance sheet<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-joint-venture-and-consignment\/\"><strong>Joint venture vs consignment<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-is-an-art-or-science\/\"><strong>Book keeping vs accountancy<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/capital-receipt\/\"><strong>Capital receipt<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/ifrs\/\"><strong>IFRS<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/departmental-accounting\/\"><strong>Departmental Accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-is-an-art-or-science\/\"><strong>Accounting vs accountancy<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/revenue-receipt\/\"><strong>Revenue receipt<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/balance-sheet\/\"><strong>Balance Sheet<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/methods-of-departmental-accounting\/\"><strong>Methods of departmental accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/basis-of-accounting\/\"><strong>Basis of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-capital-and-revenue-receipt\/\"><strong>Difference between capital and revenue receipt<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/profit-and-loss-account\/\"><strong>Profit and loss Account<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/allocation-of-expenses-in-departmental-accounting\/\"><strong>Allocation of expenses in departmental accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/branches-of-accounting\/\"><strong>Branches of accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-accounting-concepts-and-conventions\/\"><strong>Difference between accounting concepts and conventions<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/trading-account\/\"><strong>Trading Account<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/inter-departmental-transfers\/\"><strong>Inter-departmental transfers<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/cash-and-mercantile-system-of-accounting\/\"><strong>Cash and mercantile system of accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/accounting-standards\/\"><strong>Accounting Standards<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/voyage-account\/\"><strong>Voyage Account<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/different-types-of-branches\/\"><strong>Different types of branches<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-principles\/\"><strong>Accounting Principles<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/objectives-of-accounting\/\"><strong>Objectives of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/accounting-for-incomplete-voyage\/\"><strong>Accounting for Incomplete Voyage<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-departmental-and-branch-accounting\/\"><strong>Departmental vs Branch accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/golden-rules-of-accounting\/\"><strong>Golden ru\nles of accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/process-of-accounting\/\"><strong>Process of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/joint-venture\/\"><strong>Joint venture<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/methods-of-branch-accounting\/\"><strong>Methods of branch accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/double-entry-system-of-accounting\/\"><strong>Double entry system of book keeping<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/scope-of-accounting\/\"><strong>Scope of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-joint-venture-and-partnership\/\"><strong>Joint Venture Vs Partnership<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/incorporation-of-branch-trial-balance\/\"><strong>Incorporation of branch trial balance<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/difference-between-double-single-entry-system\/\"><strong>Double entry vs Single entry system<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-accounting-concepts-and-conventions\/\"><strong>Accounting Concepts vs Accounting conventions<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/methods-of-recording-transactions-in-joint-venture\/\"><strong>Methods of recording transactions in Joint Venture<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/garner-vs-murray-rule\/\"><strong>Garner VS Murray Rule<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/history-of-accounting-pdf\/\"><strong>History of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-provisions-and-reserves\/\"><strong>Difference between provisions and reserves<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/consignment\/\"><strong>Consignment<\/strong><\/a><\/td><td><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.linkedin.com\/in\/kajal-mahajan-7549b2197\/\" target=\"_blank\" rel=\"noreferrer noopener\">CONNECT ON LINKEDIN<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>TREATMENT OF LOSS ON CONSIGNMENT In consignment, the goods are to be sent from one place to the other. There is always a possibility of some kind of loss of stock. The consignor has to bear the loss, not the consignee. The Treatment of loss on consignment is for two types of losses: NORMAL LOSS&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/commerceiets.com\/treatment-of-loss-on-consignment\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;TREATMENT OF LOSS ON CONSIGNMENT&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":2,"featured_media":2515,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[166],"_links":{"self":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/2513"}],"collection":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/comments?post=2513"}],"version-history":[{"count":0,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/2513\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/media\/2515"}],"wp:attachment":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/media?parent=2513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/categories?post=2513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/tags?post=2513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}