[Ela]

thank you very much for the replies

[Ela]

thank you for your reply.
on the problem is saying that on 31 march there is an unpaid bill. this actually means that there is an accrual made on this invoice? which is reversed on 1st of April?

also when is mentioned “outstanding heating bill” is this referred to as an accrual?

it is a bit confusing for me as I am thinking that since a bill was issued, why should it be accrued? i am asuming that the company has received these bills (the unpaid bill and the outstanding bill) but they hadn’t paid for them yet. so why to make an accrual for an expense already recorded?

or is this situation presented from a spectactor point of view, where the oil supplier hasn’t received payment for these invoices and the company makes accrual for them?
thank you.

[Ela]

I am more confused as I am using BPP for studying and i am at Inventories chapter.
The methods used for valuing inventories are FIFO AVCO LIFO (first 2 accepted by IAS 2). But what about standard cost and retail method? aren’t these also methods used for valuing inventories? If not, can you explain what are these for?
thank you.

[Ela]

I am reading the forum from a smartphone, one disadvantage of the new layout is that I cant see when was the last post from a subject (the date&hour)

[Ela]

Im not sure the lectures are enough for passing. Im thinking to focus more on the text book

[Author]

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