The Accounting Review Vol. 39 No. 3 1964
A DISCUSSION OF VARIOUS APPROACHES TO INVENTORY MEASUREMENT.
Abstract
This article is presented as a supplement to Accounting and Reporting Standards for Corporate Financial Statements-1957 Revision. Unlike previously published supplementary statements, this statement uses a discussion format. This format was selected as being most appropriate for revealing the diversity of opinion on a point-by-point basis. Given the objectives for measurement of cost of goods sold and inventory stated in the 1957 revision of Concepts and Standards Underlying Corporate Financial Statements, to single method for pricing inventory quantities has been found completely satisfactory. The Executive Committee and Director of Research have instructed the researchers to investigate the problems of inventory measurement with particular emphasis on current values. This report uses the 1957 revision of accounting and Reporting Standards for Corporatate Financial Statements as the springboard for assumptions and analysis. Financial statements are intended to help users appraise performance and financial position, thereby aiding them in their major analytical tasks of comparison and prediction. Most of those interested in an enterprise are concerned with something other than the value of individual assets.
- DOI
- 10.2308/tar-7134840
- Volume
- 39
- Issue
- 3
- Pages
- 700-714
- Language
- en
- Sources
- crossref openalex