purchases and discounts

purchases and discounts - Differences in Accounting Topic:...

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
Differences in Accounting Topic: Purchases and Discounts
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Overview Purchases and Discounts Purchases: Booking to Purchases expenses; there is a booking for correction at the end of the year Discounts: immediately and later granted discounts Purchases: Booking to inventory Discounts: immediately and later granted discounts Purchases: Booking to inventory Discounts: Booking: only net Purchases: Booking to Purchases expenses; there is a booking for correction at the end of the year Discounts: immediately and later granted discounts Booking to Purchases expenses; there is a booking for correction at the end of the year Discounts: immediately and later granted discounts Booking as well to purchases expenses aswell as to inventory Discounts: immediately and later granted discounts Purchases: Booking to Purchases expenses Discounts: immediately and later granted discounts IFRS Not regulated
Background image of page 2
Details Austria How do you book purchasing merchandise or material? Purchases: Booking to Purchases expenses; there is a booking for correction at the end of the year if the inventory amount changed. It is allowed to book to an inventory account too, but it is not usual. How do you book the incidental purchasing costs? All purchasing costs are booked like the purchase itself . Imediately granted discounts : You book only the amount deducted by the discounts Later granted discounts : In this case the amount is just booked. Now you have to deduct the booked amount by another booking.
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Details Denmark How do you book purchasing merchandise or material? Immediately to inventory . How do you book the incidental purchasing costs?
Background image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 12/25/2010 for the course DEPTT. 2339485 taught by Professor J.khowel during the Spring '10 term at twsu.edu.

Page1 / 16

purchases and discounts - Differences in Accounting Topic:...

This preview shows document pages 1 - 5. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online