Inventory: Difference between revisions
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1. Raw materials, components, work in progress (WIP) and finished goods held by a company or other entity under review. | 1. Raw materials, components, work in progress (WIP) and finished goods held by a company or other entity under review. | ||
2. '' | |||
2. ''Financial reporting - balance sheet - assets''. | |||
Value of raw materials, components, work in progress (WIP) and finished goods held by a reporting entity at a balance sheet date. | Value of raw materials, components, work in progress (WIP) and finished goods held by a reporting entity at a balance sheet date. | ||
Also known as Stock. | The value for financial reporting purposes is the lower of original cost and net realisable value. | ||
Also known as Stock or Inventories. | |||
== See also == | == See also == | ||
* [[Assets]] | |||
* [[Balance sheet]] | |||
* [[First in first out]] (FIFO) | |||
* [[Foreign exchange trader]] | * [[Foreign exchange trader]] | ||
* [[IAS 2]] | |||
* [[Inventory management]] | * [[Inventory management]] | ||
* [[Last in first out]] (LIFO) | |||
* [[Net realisable value]] | |||
* [[Property]] | |||
* [[Stock]] | * [[Stock]] | ||
* [[Work in progress]] | * [[Weighted average cost]] | ||
* [[Work in progress]] (WIP) | |||
[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:Corporate_finance]] | |||
Latest revision as of 13:32, 8 November 2025
1. Raw materials, components, work in progress (WIP) and finished goods held by a company or other entity under review.
2. Financial reporting - balance sheet - assets.
Value of raw materials, components, work in progress (WIP) and finished goods held by a reporting entity at a balance sheet date.
The value for financial reporting purposes is the lower of original cost and net realisable value.
Also known as Stock or Inventories.
