fa1 chapter6(财务会计).pptVIP

Topic 6 Accounting for Merchandising Businesses 1. Nature of Merchandising Business 2a. Accounting for Purchases 2b. Accounting for Sales 2c. Transportation Costs 2d. Merchandise Transactions 3. Merchandising Chart of Accounts 4. Merchandising Income Statement 5. Merchandising Accounting Cycle Merchandising involves selling inventory Inventory is usually an important asset(current asset) Inventory must be accounted for periodically or perpetually Traditional periodic method is often being replaced by perpetual inventory accounting Inventory System overstated understated overstated overstate