What would be the advantages of inventory - the perpetual/continuous and the periodic/physical system, and why might you have a preference for one over the alternative system?

2 ) If we undertake a physical stocktake at balance day when we adopt a perpetual inventory system what is the advantage?

3)  Why do we have accounting regulations?

4 ) Give one example of an accounting standard? What does this standard refer to? Is there a choice in methods within the standard? What are they and why do you think the choice is important?

5 ) If there is a choice does this restrict comparability between companies? Do you think this might be a problem for an investor?

Answer rating: 100% (QA)

1 Advantages of PerpetualContinuous Inventory System Realtime Tracking The perpetual system continuously updates inventory records providing accurate and uptodate information on inventory levels Timel... View the full answer