TAILIEUCHUNG - Lecture Accounting principles (11E): Chapter 6 - Coby Harmon

After completing this chapter you should be able to: Determine how to classify inventory and inventory quantities, explain the accounting for inventories and apply the inventory cost flow methods, explain the financial effects of the inventory cost flow assumptions, explain the lower-of-cost-or-market basis of accounting for inventories,.and other contents. | Prepared by Coby Harmon University of California, Santa Barbara Westmont College 6-1 6 Inventories Learning Objectives After studying this chapter, you should be able to: [1] Determine how to classify inventory and inventory quantities. [2] Explain the accounting for inventories and apply the inventory cost flow methods. [3] Explain the financial effects of the inventory cost flow assumptions. [4] Explain the lower-of-cost-or-market basis of accounting for inventories. [5] Indicate the effects of inventory errors on the financial statements. [6] Compute and interpret the inventory turnover. 6-2 Preview of Chapter 6 Accounting Principles Eleventh Edition Weygandt Kimmel Kieso 6-3 Classifying Inventory Merchandising Company One Classification: Manufacturing Company Three Classifications: Inventory Helpful Hint Regardless of the classification, companies report all inventories under Current Assets on the balance sheet. 6-4 Raw Materials Work in Process Finished Goods (See page .

• Kế toán - Kiểm toán
• Lecture Accounting principles
• Accounting principles
• Classify inventory
• Inventory quantities
• The financial effects
• The inventory cost flow assumptions
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Accounting information systems
• Fundamental system principles
• Technology based accounting systems
• Accounting information
• Financial accounting
• Managerial accounting
• Managerial cost
• Reporting manufacturing activities
• Merchandising operations
• Accounting cycle
• Completing the accounting cycle
• Classified balance sheet
• Accounting for partnerships
• Partnership form of organization
• Basic partnership accounting