top of page

Cost of inventories

Writer's picture: Thomas TsangThomas Tsang

The cost of inventories shall include material, cost of conversion and freight inwards cost. Cost of conversion include depreciation, direct labour and other indirect cost.


Therefore, company shall do manufacturing cost accounting for inventories. They cannot don’t do manufacturing costing.

5 views0 comments

Recent Posts

See All

Timing for impairment test on goodwill

In Singapore FRS 36, paragraph 96 ”The annual impairment test for a cash-generating unit to which goodwill has been allocated may be...

Prior year error

When there was a judgement made in prior year without concrete evidence of support. The audit should have qualified it. When in...

Comments


bottom of page