1、Chapter 4Accounting for Inventories and merchandising sales存货和商品销售的会计核算Key WordslCash discount 现金折扣lCost of goods sold 商品销售成本lCredit memorandum 贷记通知单lCredit period 信用期限lCredit terms 信用条件lDebit memorandum 借记通知单lDiscount period 折扣期lEOM (End of month)月末Key...
Overview Accounting requirements relating to inventories are specified in the IAS 2 Inventories standard. It tells us, among others, what the definition of an inventory is and what should and should not be included in the cost of an inventory at initial recognition. According to the standard subs...
Summary This chapter examines the inventories (IAS 2) standard that prescribes the basis of determining and accounting for inventories as an asset until the related revenues are recognized. Inventories are defined as assets that are either held for sale in the ordinary course of business or are ...
The amount of raw materials, work in process, and finished goods being held for sale at a given time. Diamonds held by a jeweler, engines owned by General Motors, and canned and frozen foods in a grocery store chain's warehouse are examples of inventory. Inventory is generally the least ...
The balance in the inventory account is unchanged during the period. At the end of the accounting period, a closing entry is made which debits the inventory account for the ending inventory amount and credits the inventory account for the beginning inventory amount. Cost of goods is determined ...
1The objective of this Standard is to prescribe the accounting treatment for inventories. A primary issue in accounting for inventories is the amount of cost to be recognised as an asset and carried forward until the related revenues are recognised. This Standard provides guidance on the determinati...
(originally issued in October 1975). The Standing Interpretations Committee developed SIC-1 Consistency—Different Cost Formulas for Inventories , which was issued in December 1997. Limited amendments to IAS 2 were made in 1999 and 2000. In April 2001 the International Accounting Standards Board (...
self-accounting units; the continual review of store-holderinventoriesatall levels within the Mission; the modernization of [...] daccess-ods.un.org daccess-ods.un.org [...] 长报告,负责:管理和维护稳定团的电子资产控制系统;管理库存,降低库存量; ...
self-accounting units; the continual review of store-holderinventoriesatall levels within the Mission; the modernization of [...] daccess-ods.un.org daccess-ods.un.org [...] 长报告,负责:管理和维护稳定团的电子资产控制系统;管理库存,降低库存量; ...
Therefore we have based our scientific demarche on analyzing the trade literature and comparing the foresights of international regulations given by both the accounting setting bodies and the valuation setting bodies. Moreover we have followed two of the three moments which require valuation and for ...