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Why are expenses items typically accrued at period end, and why
are inventory items always accrued on receipt?

Answers were Sorted based on User's Feedback



Why are expenses items typically accrued at period end, and why are inventory items always accrued ..

Answer / nimesh shah

Inventory items are always accrued at receipt to show the
correct value of inventory or Stock of the business at any
point of time during the period.

Is This Answer Correct ?    5 Yes 2 No

Why are expenses items typically accrued at period end, and why are inventory items always accrued ..

Answer / raghuka

As per Matching Concept all costs which are applicable to
the revenue of the period should be charged against that
revenue in order to determine net income of the business.

Inventory items are always accrued at receipt bcos you
cannot book liability without receiving the asset.

Is This Answer Correct ?    5 Yes 3 No

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