TAILIEUCHUNG - Lecture Financial accounting: Tools for business decision making - Chapter 6: Reporting and analyzing inventory

This chapter’s objectives are to: Describe the steps in determining inventory quantities; apply the cost formulas using specific identification, FIFO, and average cost under a perpetual inventory system; explain the effects on the financial statements of choosing each of the inventory cost formulas. | Reporting and Analyzing Inventory Kimmel ● Weygandt ● Kieso Financial Accounting, Eighth Edition 6 CHAPTER OUTLINE Discuss how to classify and determine inventory. 1 Apply inventory cost flow methods and discuss their financial effects. 2 LEARNING OBJECTIVES Explain the statement presentation and analysis of inventory. 3 One Classification: Merchandise Inventory Three Classifications: Raw Materials Work in Process Finished Goods Merchandising Company Manufacturing Company ▼ HELPFUL HINT Regardless of the classification, companies report all inventories under Current Assets on the balance sheet. LEARNING OBJECTIVE Discuss how to classify and determine inventory. 1 LO 1 ACCOUNTING ACROSS THE ORGANIZATION A Big Hiccup JIT can save a company a lot of money, but it isn’t without risk. An unexpected disruption in the supply chain can cost a company a lot of money. Japanese automakers experienced just such a disruption when a earthquake caused major damage to the company that .

• Kế toán - Kiểm toán
• Analyzing inventory
• Determining ownership
• Financial accounting
• Lecture Financial accounting
• Business decision
• Kế toán tài chính
• Analyzing inventory
• Inventory system
• Financial statements
• A further look at financial statements
• The accounting information system
• Accrual accounting concepts
• Analyzing liabilities
• Lecture Accounting
• Business organization
• Accounting information
• Learning Financial accounting
• Statement of Cash Flows
• Accounting system
• Analyzing inventories
• Determining inventory items
• Financial statement
• Financial statements multiple step income statement
• Internal control
• Making business decision
• Business decision tool
• Merchandising operations
• Survey of Accounting
• Lecture Survey of Accounting
• Analyzing merchandising transactions
• Inventory systems
• Recording purchases
• Financial statements statements
• The multiple step income statement