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The situation that requires a departure from the cost basis of accounting to the lower of cost or market basis in valuing inventory is necessitated by?
Wiki User
∙ 10y ago
Decline in the value of inventory
Wiki User
∙ 10y ago
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What situation brings about an inventory reduction logistics?
Decentralized approach.
What is MAT in financial accounting?
In financial accounting, MAT can stand for Market Acceptance Testing or Management Aptitude Test. It also refers to Monthly Average Treasury, Monthly Average Total, or Moving Annual Total depending on the situation for which it is used.
What is the effect of stockout on an organization?
Stockout is a situation in which a company sells its entire inventory. A stockout may occur, for example, when there is a delay in a scheduled delivery of new inventory, however, it basically means that the demand exceeds the supply. Although it is relatively good to sell out your inventory rather than having a surplus of overstock, this unbalanced flow of business can cause the company to miss opportunities of maximizing their profits.
What are the specialized fields of accounting?
Specialised fields of accounting is Financial accounting , cost accounting & management accounting. The classification is purely based on what kind of accounting activities are conducted. E.g; in the case of financial accounting historical business transactions are recorded in the books of accounts of an undertaking. In some situation possible certain due transactions are entered as due entry. Costs considered are historical costs of various transactions In the case of cost accounting cost calculations are done keeping historical & estimated costs. Cost accounting & the process calculating costs vary according to nature of business manufacturing activity or operating activities. costs are classified for costing & estimation which is essential in costing . Accounting function for costs can be historical /estimated or both depending on the policy. Another field of management accounting encompasses both cost & financial accounting data /books to generate management reports (purely internal confidential reports). financial auditor verifies the truthfulness of financial records. financial accounting data is publicized in the form of annual financial reports .costing & management accounting data are generated for internal purposes & they are also subject to cost & management audit. Contributor's ID y_s_ganesh@yahoo.com
What is abstract situation?
the answer to this is a melondromatic sytem opertor mellowing out a cosmogomic situation
How much goods are available for sale if your beginning inventory is 7500 and finished goods inventory is 6000?
Without knowing the details of the accounting situation you are dealing with, it would appear that you should have either 6000 units or 6000 dollars worth of goods ready for sale.
What situation brings about inventory reduction?
Theft
What situation brings about an inventory reduction?
centralized approach
What is accounting nationalism?
Accounting nationalism is a situation where by each country has a national sovereinty †☺ establish her own accounting rules and policies.
What situation brings about an inventory reduction logistics?
Decentralized approach.
Are inventory tags worth the cost?
Inventory tags are worth the cost because they tend to keep inventory straight. You will have an organized inventory and an easier tab on inventory.It all depends on type of situation.
Does the trustee who is your sibling have to provide the beneficiary with a copy of parents trust?
Yes, as a beneficiary, you have the right to receive a copy of the trust document. The trustee, who is your sibling, has a duty to keep you informed about the trust and its administration. You can request a copy of the trust document from the trustee if you have not received one.
Critically examine the relevance of cost and management accounting information in the current global melt down situation?
relevance of cost & management accounting in the current global economic melt down situation.
How can people get creative with their accounting?
Creative accounting is where it is often emphasised the positive aspects of a company's finacal situation. Whilst downplaying any negative factors within the finances.
Explain the statement accounting is a mean rather than an end?
Accounting helps businesses perform better. When managers analyze accounting reports and find areas that need improvement they can make the changes to improve their production and financial situation.
How does fixed asset management help a situation?
Fixed assets management is an accounting process that helps track fixed assests for financial accounting, preventative maintenance and to prevent theft.
How can a perpetual inventory system help a small business keep track of inventory?
A perpetual inventory system keeps track of inventory changes with every purchase, new order and return. This is different from the periodic inventory system where the inventory database is only updated once every several months. The perpetual inventory system, thanks to computing power, can help a small business know at all times what it has on hand, which allows it to place smaller orders at a time, which can help with the cash flow situation.
