Tesco (GBR) reported inventory in its statement of financial position as follows: Inventories..............................2,430,000,000 What additional disclosures might
Question:
Inventories..............................£2,430,000,000
What additional disclosures might be necessary to present the inventory fairly?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (9 reviews)
The accounting policies adopted in measuring inventories including the cost formula u...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Question Posted:
Students also viewed these Managerial Accounting questions
-
Deere and Company reported inventory in its balance sheet as follows: Inventories.................................$1,999,100,000 What additional disclosures might be necessary to present the...
-
White Stripes Company reported inventory in its balance sheet as follows: Inventories $115,756,800 What additional disclosures might be necessary to present the inventory fairly?
-
Leopard Corporation is currently preparing its annual financial statements for the fiscal year ended April 30, 2014, following IFRS. The company manufactures plastic, glass, and paper containers for...
-
In Exercises sketch the graph of an arbitrary function that satisfies the given condition but does not satisfy the conditions of the Mean Value Theorem on the interval [-5, 5]. is not continuous on...
-
The cylinder shown is of weight W and radius r. Express in terms of W and r the magnitude of the largest couple M which can be applied to the cylinder if it is not to rotate assuming that the...
-
Figure 1.8 provides a bar chart showing the annual advertising revenue for Facebook from 2010 to 2017 (Facebook Annual Reports). a. What is the variable of interest? b. Are the data categorical or...
-
Provide examples of Web services and discuss the contribution of Web services to the efficiency of information systems.
-
Cypress Oil Companys December 31, 2013, balance sheet listed $645,000 of notes receivable and $16,000 of interest receivable included in current assets. The following notes make up the notes...
-
How does ethical leadership transcend traditional paradigms of authority, emphasizing moral principles and values to inspire trust, foster transparency, and cultivate a culture of integrity within...
-
The 2018 balance sheets and income statement for Netflix Inc. follow. Refer to these financial statements to answer the requirements. NETFLIX INC. Consolidated Statement of Earnings For Year Ended...
-
A fire destroys all of the merchandise of Assante Company on February 10, 2019. The following is information compiled up to the date of the fire. Inventory, January 1,...
-
Why are inventories valued at the lower-of-cost-or-net realizable value (LCNRV)? What are the arguments against the use of the LCNRV method of valuing inventories?
-
1. In small groups discuss the problems encountered because of Davids interview style. What interview style does David use? How does he handle the candidates differently? What problems might result...
-
detail a calculation for finding the most broad unifier of two terms. Delineate your response by bringing together the accompanying sets of terms: f(x, a, x) with f(a, y, b) f(x, y, z) with f(g(y),...
-
Define the concept of IT and its significant role in the logistics operations. explain
-
How do you explain a liquidity ratio for a business report if you do not have one?
-
14. (2 bonus pts) Suppose you are an inventory manager. If unit inventory holding cost is becoming higher, then, to make the total cost (including ordering cost and holding cost) lower, you would a....
-
A step-down transformer has a primary voltage of 240 V and a secondary voltage of 5 V. The primary current is 0.35 A. Determine the current in the secondary coil. A 160 MW power plant delivers a...
-
What is the difference between an online service provider and an Internet service provider?
-
Which of the following statements is false? a. Capital leases are not commonly reported in a Capital Projects Fund. b. A governmental entity may report a Capital Project Fund in one year but not the...
-
Bonata Inc. sells 1,400 common shares on a subscription basis at $65 per share. On June 1, Bonata accepts a 45% down payment. On December 1, Bonata collects the remaining 55% and issues the shares....
-
Kramers Inc. sells 1,000 common shares on March 1 to its employees at $25 per share. Kramers lends the money to the employees to buy the new shares. The employees pay 50% of the price on the...
-
Platinum Corporation issued 4,000 of its common shares for $66,000. The company also incurred $1,700 of costs associated with issuing the shares. Prepare the journal entry to record the issuance of...
-
1). The Electronic Corporation manufactures two electrical products: air conditioners and large fans. The assembly process for each is similar in that both require a certain amount of wiring and...
-
After reviewing oceanview marine company's case materials, and reviewing the unaudited account balances, what is your preliminary view on the client's ability to continue as a going concern? What is...
-
For each chemical reaction listed in the table below, decide whether the highlighted atom is being oxidized or reduced. reaction highlighted atom is being... neither oxidized reduced oxidized nor...
Study smarter with the SolutionInn App