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International Accounting Standard Committee ( I. A. S.C. ) Defines inventories as Tangible property)
a. Held for sale in the ordinary course of business.
b. In the process of production for such sale or.
c. To be consumed in the process of production of goods or services for sale.
The American Institute of Certified Public Account ( AICPS) defines inventory in the sense of tangible goods. Which are held for sale in process of production and available for ready consumption.
Inventory includes the followings things:
a. Raw materials
b. Work in progress
c. Consumables
d. Finished goods
e. Spares
Inventory means all the materials parts supplies expense tools and in process or finished products recorded on the books by an organization and kept in its stocks ware house or plant for some period of time.
A company incurred the following expenditure during the year: $'000 $'000 Lic
Explain in Details Return on Investment
Standards at International Level: In view of the development of international trade and multinational enterprises, the requirement for standardization at the international level w
i buy machine 70% cash 30% installments.i have charged 100% cost to asset and capital so when i pay first installment i debit installment expense and credit bank so my question is
Development of financial accounting standards Several organizations are considerable in the establishment of generally accepted accounting principles (GAAP) for businesses or g
To finish this scenario, use the Confidence Interval Calculator Sheets 1,2,3 and the Area Gas Prices - Random Sample Excel file, linked in the Resources. The Minneapolis Star Tr
During 2011, Lavina Corporation had cash and credit sales of $94,000 and $91,000, respectively. The company also collected accounts receivable of $53,400 and incurred expenses of
assignments
The book of Deven Verma could not be tallied. The accountant transferred the difference of Rs. 1,270 in the suspense account on the debit side. The following mistakes were found la
If I sold aan asset before its matured perid what will be it''s Depreciation schedule?
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