Inventory Accounting in...

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israr's picture
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 Inventory Accounting in Cash Basis Accounting System:

Hello Every One,

Can any one help me out in finding out what will be the accounting treatment for inventory transaction in cash basis accounting.

Regards,

Israr

Anonymous (not verified)
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Ofcourse there wont be any

Ofcourse there wont be any accural transactions, so for inventory transactions like PO the financial transaction 'll happen when you make payment in AP.

The payment accounting entries typically debit your expense or asset account and credit your cash or cash clearing account

Cash basis system records cash transactions only, and ignores everything else. It works only for very simple businesses that never buy anything on credit to be paid later, never offer customers credit, and don't manage inventory. With cash-basis accounting there are no accounts payable, no accounts receivable, and no inventory.

 

Anonymous (not verified)
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Cash Basis accounting has no

Cash Basis accounting has no relevancy in inventory. Its for payable and receviable.

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Can any one help me out in finding out what will be the accounting treatment for inventory transaction in cash basis accounting.
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А где судья проститутка Кондрашова М.С. ?

В 2015 году редакция газеты "Новый Петербург" направила запрос председателю Санкт-Петербургского городского суда и квалификационной коллегии судей в отношении судьи Калининского районного суда Кондрашевой Марии Сергеевны. Ставился вопрос нужны ли такие судьи? Ответа не последовало.
В 2014 году Кондрашева М.С. вынесла незаконное решение взыскать с матери одиночки Оксаны Королёвой 2 миллиона рублей за защиту детской площадки во дворе дома 44 по пр.Науки, где пытались построить магазин. И хотя приостанавливали стройку по решению администрации города, судья Кондрашова М.С. решила, что оплачивать простой техники должна именно Королёва, получающая зарплату 15 тысяч рублей.
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