My Wordpress Blog

Archive for the ‘Uncategorized’ Category

Specific Identification Method (accounting)

Monday, February 8th, 2010

The specific finding method is cost attribution
(Link) to the cost of certain goods that can be identified
in stock. This is an appropriate treatment for items are separated for special projects either bought or generated. This fee is not appropriate for a massive number of goods homogeneous that can replace apiece other.

If any item bought can be tagged date buy and the price just so the store can easily refer and determine the cost of goods that have been sold. If companies apply these methods for apiece inventory
purchased the company apply the specific finding method. So
each item has the essence of indistinguishability based on cost or price
with the date of purchase. The specific finding method has
characteristic that the flow of charge or cost price equal to the flow of goods physical goods purchased.

Notes Receivable

Friday, January 8th, 2010

The notes are an unconditional written promise from one party
to another celebration to pay a certain amount of money on at a certain future. Bills divided into two, namely:

1. flowering is the promissory notes that have interest rates
set

2. non-interest bearing promissory notes is that interest is included
in nominal amount so that the interest is not declared
explicit.
Promissory notes that might have sold or transferred or
discounted to other celebrations such as banks, but there also can not
transferable. Discounting the notes will be prefabricated before start tempo.
As in the case of accounts receivable, it is also doable to distinguish the notes receivable to trade notes, bills of employees and others. In general the notes receivable can be classified into 2 types, namely:

1. Notes receivable not flowering

2. Interest bearing notes receivable
Flowering is doubtful receivables promissory notes where the debtor will subject to a number of particular interest as it appears in sheet
weselnya over the life of the notes. While no-interest notes receivable
notes receivable which are not conditional interest payments, which
means that the debtor is not charged interest on the notes.