'Ending inventory' diaporamas de présentation

Chapter Nine

Chapter Nine. Profit Planning. Learning Objective 1. Understand why organizations budget and the processes they use to create budgets. The Basic Framework of Budgeting.

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Chapter 6

Chapter 6. Inventories. Objectives:. Discuss inventory cost flow assumptions. Apply cost flow assumptions to determine the CGS and the value of ending inventory. Explain the lower-of-cost-or-market (LCM) rule for inventory reporting.

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Inventory Valuation at Other Than Cost

Inventory Valuation at Other Than Cost. Learning Objectives. Apply the lower-of-cost-or-market (LCM) rule to reflect declines in the market value of inventory. Use the gross profit method to estimate ending inventory.

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Explain the significance and use of a LIFO reserve. Understand the effect of LIFO liquidations.

8. Valuation of Inventories: A Cost-Basis Approach. Identify major classifications of inventory. Distinguish between perpetual and periodic inventory systems. Determine the goods included in inventory and the effects of inventory errors on the financial statements.

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Chapter 8

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Chapter 6 Cost of Sales and Inventory

Chapter 6 Cost of Sales and Inventory. Types of Companies. Merchandising company Sells goods in same form as acquired. Manufacturing company Converts raw material into finished goods. Service company Provides intangible services. Inventory Issues. What is inventory?

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INVENTORIES: MEASUREMENT

Chapter 8. INVENTORIES: MEASUREMENT. Merchandise Inventory. Manufacturing Inventory. Goods acquired for resale. Raw Materials Work-in-Process Finished Goods. Recording and Measuring Inventory. Types of Inventory. Manufacturing Inventories. Raw Materials. Finished Goods.

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Learning Objectives

Power Notes. Chapter M2. Process Cost Systems. 1. Comparing Job Order Costing and Process Costing 2. Physical Flows and Cost Flows for a Process Manufacturer 3. The First-In, First-Out (Fifo) Method 4. Bringing It All Together: The Cost of Production Report

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Learning Objectives

Power Notes. Chapter 18. Process Cost Systems. 1. Comparing Job Order Costing and Process Costing 2. Physical Flows and Cost Flows for a Process Manufacturer 3. The First-In, First-Out (Fifo) Method 4. Bringing It All Together: The Cost of Production Report

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Chapter-6: Inventories

Chapter-6: Inventories. Classifying Inventories. Regardless of the classification, companies report all inventories under Current Assets on the balance sheet. Determining Inventory Quantities and Ownership. Taking a Physical Inventory.

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INVENTORY VALUATION

CHAPTER. 6. INVENTORY VALUATION. Perpetual Updates inventory and cost of goods sold after every purchase and sales transaction Periodic Delays updating of inventory and cost of goods sold until end of the period Misstates inventory during the period.

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FA2: Module 7 Inventories and Cost of Goods Sold

FA2: Module 7 Inventories and Cost of Goods Sold. Definition of inventory Cost of inventory Inventory systems Effect of inventory errors Costing inventory Inventory valuation The gross profit method Retail inventory method Valuation of inventory at NRV. 1. Definition of inventory.

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Accounting 211 Financial and Managerial Accounting

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Ch. 9: Inventory Lower of Cost or Market

Ch. 9: Inventory Lower of Cost or Market. The lower of cost or market is an exception to the historical cost principle. Future potential of the asset < original cost: Restate asset at market to replace cost. Loss charged against revenues of the period.

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9 CURRENT ASSETS

9 CURRENT ASSETS

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3020 Chapter 9

3020 Chapter 9. Profit Planning. Budgeting. A quantitative plan of what we expect in the future Personal budgets Purposes Planning Control Responsibility Accounting. Advantages. Planning for future makes you think about what will happen

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Chapter 6,Part 2: Inventory

Capitalization of Inventor Primary accounts: Inventory and Cost of Goods Sold (COGS). Capitalize: add to an asset (inventory) account at the time of acquisition. What costs to capitalize? Cost to acquire, including transportation costs to facility (transportation-in or freight-in).

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ACG 2021

ACG 2021. Chapter 6 – Inventory Summary. Formula - 1. Beginning Inventory + Purchases -------------------------------- Goods Available for Sale - Ending Inventory --------------------------------- Cost of Goods Sold. Formula - 2. Beginning Inventory + Purchases

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Inventories

Inventories. Very Expensive Costs of holding: Interest, space, administrative Deterioration and obsolescence No return on the investment Non-value-added cost to customers Hiding errors

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