The material says that the financila statement footnotes should include the following when measuring a firm's assets and liabilities:
"Inventories recognized as an expense"
Can anyone explain this?作者: cyber21 时间: 2011-7-13 14:27
You gotta state the exact page and the book that you are are referring to man man.作者: waldziuchna 时间: 2011-7-13 14:27
Hi, this is from Scheweser book Accounting 2009 page 80.
The financial statement footnotes should include the following when measuring a firm's assets and liabilities:
- Basis for measurement
- Carrying value of inventory by category
- Amount of inventory at fair value less costs to sell
- Write-downs and reversals
- Inventories pledged as collateral
- Inventories recognized as an expense
I am curious about the last point.作者: RobertA 时间: 2011-7-13 14:27
inventories as expense = what is the COGS part of your income statement.
