Subject category:
Finance, Accounting and Control
Published by:
Ivey Publishing
Version: 2009-06-23
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Abstract
For many companies, the inventories constitute the major source of cash outflows, cash inflows and income. Inventories can represent one of the largest and most active assets on the balance sheet. As a result, the proper valuation of inventory plays a central role in the measurement of income as well as the determination of financial position. This note examines some of the theoretical and practical problems involved in accounting for inventory.
About
Abstract
For many companies, the inventories constitute the major source of cash outflows, cash inflows and income. Inventories can represent one of the largest and most active assets on the balance sheet. As a result, the proper valuation of inventory plays a central role in the measurement of income as well as the determination of financial position. This note examines some of the theoretical and practical problems involved in accounting for inventory.