Foreign-Currency Inventory Purchases
Follow a euro purchase through recognition, closing and settlement, separating historical inventory cost, supplier exchange differences and bank fees.
Read the guide: Foreign-Currency Inventory Purchases
Make sense of your business numbers
Practical accounting for your working day
Practical accounting guides for businesses. Understand your numbers, organize stock and collections, and bring more clarity to everyday decisions.
Purchase Cycle: From Need to Supplier Payment
Map purchase request, selection, order, receipt, invoice and payment, with controls and an example separating each status.
Read the guide: Purchase Cycle: From Need to Supplier Payment
Events after the Reporting Period and Inventory
Assess post-year-end inventory damage and low-price sales using two cases that distinguish evidence of existing conditions from new events.
Read the guide: Events after the Reporting Period and Inventory
Periodic versus Perpetual Inventory: Records Do Not Replace Physical Counts
Compare periodic and perpetual inventory updates and plan counting, reconciliation and cut-off under either approach.
Read the guide: Periodic versus Perpetual Inventory: Records Do Not Replace Physical Counts
Inventory Policies, Estimates and Error Corrections
Distinguish inventory estimate changes, accounting policy changes and errors through three practical cases and a focused review-evidence table.
Read the guide: Inventory Policies, Estimates and Error Corrections
Fair Value versus Net Realisable Value
Compare fair value and net realisable value through worked inventory examples and learn why a new market quotation is not automatically a new carrying amount.
Read the guide: Fair Value versus Net Realisable Value
Landed Cost: Allocating Freight and Charges to Inventory
Identify costs incurred to bring inventory to location and condition and choose a reviewable allocation basis, with a value-versus-quantity example.
Read the guide: Landed Cost: Allocating Freight and Charges to Inventory
Credit Sales and Expected Credit Losses
Use an illustrative expected-credit-loss matrix while reviewing due dates, risk grouping and forward-looking evidence, separate from collection and write-off decisions.
Read the guide: Credit Sales and Expected Credit Losses
Onerous Supply Contracts and Purchase Commitments
Assess a loss-making supply contract by comparing fulfilment and exit, identifying relevant costs and avoiding double-counted asset and provision losses.
Read the guide: Onerous Supply Contracts and Purchase Commitments
Inventory Turnover: Read Speed alongside Margin and Availability
Understand inventory turnover and days, with an example connecting sales speed to value, availability and seasonality.
Read the guide: Inventory Turnover: Read Speed alongside Margin and Availability
Spare Parts: Inventory or Property, Plant and Equipment?
Classify spares by intended use rather than shelf labels or price, with technical records and a worked component-replacement scenario.
Read the guide: Spare Parts: Inventory or Property, Plant and Equipment?
Slow-moving and Obsolete Inventory: From Aging Report to Decision
Classify slow-moving stock and review net realisable value, with an example for documented sell-through, return or write-down action.
Read the guide: Slow-moving and Obsolete Inventory: From Aging Report to DecisionTurn understanding into organized work
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