From the Unit Outline
1. Chapter 2 Q 2, 3, 5, 6, 7, 10, 11, 12, 14, 15, 16, 20, 23 and Problems 4, 6, 10
2. Chapter 9 Questions 2, 3, 5, 6, 7, 8, 9 and Chapter 9 Problems 1, 2, 3, 4, 7, 8
3. Case flying field Question Billabong and GUD
Before approaching to Tutorial 2
Readings decreed textbooks
Peirson, G., & Ramsay, A. (2009). An foot to financial accounting. Melbourne: Pearson-Prentice-Hall. (Customised Book ISBN 978 1 4425 19770).
Accounting handbook (2010), CPAs, Melbourne, Pearson-Prentice-Hall.
- Prescribed Textbook chapter 1 (overview only), chapter 2 (Trading Businesses), chapter 9 (Current Assets emphasis on inventory)
- Accounting handbook AASB 102 Inventory
Additional readings
- Hoggett Accounting 7th pas seul chapter 6, chapter 19
- Horngren chapter Financial Accounting 5th edition chapter 5, chapter 6
Before coming to Tutorial 2 post to your tutorial group in blackboard your attempt of the following questions
a) Briefly formulate the features of utter(a) inventory (not less than 50 words)
Asset - track
b) Briefly explain the features of periodic inventory (not less than 50 words)
Expense not track, once purchased considered change
c) Briefly distinguish between the following cost methods (not less than 50 words)
Identified Cost not interchangeable
Eg MV engine number
Average AASB 102 par 25 and following
interchangeable
Weighted average
pathetic average
FIFO
interchangeable
Assumption that the oldest item is sold first
LIFO
Assumption that the newest item is sold first
Lecture 1 summary slide 46
d) If prices are locomote what method of costing will result in the highest closedown inventory
FIFO
e) Briefly explain what factors may lead to the Net tangible value falling...If you want to get a full essay, baseball club it on our website: Ordercustompaper.com
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