what is SSAP 9, and what is it used for?

Question

In accounts, in stock vaulation there is someting called SSAP9 what is it and what is it used for?

Answer 1

SSAP 9 is short for Statement of Standard Accounting Practice Number 9. It lays out the principles for determining the value that should be assigned to certain assets, such as stocks of materials or long-term contracts, owned by a company.

This appears to be a standard practice within the Unied Kingdom. I do not know how much it is used outside the UK.

For the full text see the source link.