top of page
Search

Cost of inventories

  • Writer: Thomas Tsang
    Thomas Tsang
  • Jan 14, 2020
  • 1 min read

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.

 
 
 

Recent Posts

See All
Audit thinking logic

What are we going to audit - revenue, trade receivables, unquoted equity investments, trade payables, etc What audit procedures (nature, timing) to be performed to ascertain each of the assertions Wha

 
 
 
Audit schedule provided by client in audit

Before we place reliance on audit schedule provided by client in an audit engagement, we are required to ensure the completeness and accuracy of the audit schedule. In order to address the issue, we n

 
 
 
Enterprise value

In business valuation, enterprise value is the value of the business. It includes any intangible assets not booked such as goodwill,...

 
 
 

Comments

bottom of page