Explain about period costs, Accounting Basics

Assignment Help:

Q. Explain about Period costs?

Period costs are costs not noticeable to specific products and expensed in the period incurred. Administrative and Selling costs are period costs.


Related Discussions:- Explain about period costs

Criticisms against setting of accounting standards, Criticisms against sett...

Criticisms against setting of Accounting Standards: 1.       Setting of Standards may occasionally control the type of treatment of definite items. 2.       They may generat

Consistency principle, A company has been depreciating its IT equipment ove...

A company has been depreciating its IT equipment over 5 (five )years, but now finds that it is becoming obsolete in 3 years.   What does the consistency principle allow the comp

What do you understand by goodwill, Q. What do you understand by Goodwill? ...

Q. What do you understand by Goodwill? Goodwill -- in accounting, difference between what a company pay when it buys theassets of another company and book value of those assets

Misstatement of accounting information, Q. Misstatement of accounting infor...

Q. Misstatement of accounting information? The FASB describes materiality as the magnitude of an omission or misstatement of accounting information that in the light of surroun

Case Study Labor standards, Case Study Labor standards Geet...

Case Study Labor standards Geeta & Company has experienced increased production costs. The primary area of concern identified by management is direct labor. The compa

Survey of accounting issues, Required: Record the following transaction on...

Required: Record the following transaction on the spreadsheet, total each column a. Issued 100 shares of common stock for $12 per share, par=$1, on Jan 15, 2011. b. On Feb. 5 pu

The list of accounts below and the unadjusted balances, The list of account...

The list of accounts below and the unadjusted balances of these accounts were taken from the ledger of the Manville Corporation at the end of their accounting period, March 31,

Example of accumulated depreciation account, Q. Example of accumulated depr...

Q. Example of accumulated depreciation account? The accumulated depreciation account doesn't represent cash that is being set aside to change the worn out asset. The un-depreci

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd