Disclosures relating to inventories Griffith Manufacturing Ltd reported inventories in its statement of financial position as follows What additional disclosures might be necessary to present the inventories fairly Inventories $75 511 500...

AASB 102 paragraph 36 requires Griffith Manufacturing Ltd to disclose the following information abou ...

Disclosures relating to inventories Griffith Manufacturing Ltd reported inventories in its statement of financial position as follows:

Question:

Disclosures relating to inventories Griffith Manufacturing Ltd reported inventories in its statement of financial position as follows:

image text in transcribed

What additional disclosures might be necessary to present the inventories fairly?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Reporting

ISBN: 9780730396413

4th Edition

Authors: Janice Loftus, Ken Leo, Sorin Daniliuc, Belinda Luke, Hong Nee Ang, Mike Bradbury, Dean Hanlon, Noel Boys, Karyn Byrnes

See More Books

Question Posted: Apr 04, 2024 10:00 PM

See More Questions

Tesco (GBR) reported inventory in its statement of financial position as follows: Inventories..............................2,430,000,000 What additional disclosures might be necessary to present the...
The following is Mann Corp.'s comparative statement of financial position at December 31, 2017 and 2016, with a column showing the increase (decrease) from 2016 to 2017: Additional information: 1. On...
The financial statements of JJ Ltd and KK Ltd for the year to 30 June 2018 are shown below: Statements of comprehensive income for the year to 30 June 2018. Statements of financial position as at 30...
You have $300,000 saved for retirement. Your account earns 6% interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 20 years? $ Get help: Video
Burke Bros. records adjusting entries on an annual basis. The company has the following information available on accruals that must be recorded for the year ended December 31, 2014: 1. Burke Bros....
Explain how fairness in employee termination can be ensured, particularly the prerequisites to progressive discipline guidelines.
What were the major catalysts for the fall of the dot coms? LO.1
Wolverine Corp. currently has no existing business in New Zealand but is considering establishing a subsidiary there. The following information has been gathered to assess this project: The initial...
David Machineries is faced with two independent investment opportunities. The company has an investment policy which requires acceptable projects to recover all costs within 3 years. The company uses...
Recording inventories transactions George Ltd began business on 1 March 2025. George balances the books at month-end and uses the periodic method. George Ltd's transactions for March 2025 are...
Inventories costs As a new graduate you have been assigned to the accounting team led by Andy Steel. Andy wants to determine your expertise in relation to accounting for inventories and has given you...
Packaging of a childrens health food. Refer to the Journal of Consumer Behaviour (Vol. 10, 2011) study of packaging of a childrens health food product, Exercise 8.42 (p. 419). Recall that a...
You have been employed as a systems analyst in the information systems organization of a medium-sized consumer goods manufacturer for three years. You are quite surprised when your manager offers you...
For your initial post, address the following: First, introduce yourself to the class by sharing a bit about yourself, such as your preferred name or pronouns, where you are from, what your major is,...
Question 8 : Consider the technology of Solar Panels. Which stage of the technology life cycle S curve is this technology in. Justify why ? Question 9 : The standard Product Life Cycle has 5 stages...
At Benihana restaurant a man wrenched his neck while ducking a piece of flying shrimp, requiring treatment by several doctors. By that summer, doctors determined surgery was necessary to treat...
You have just come into an inheritance of $25,000 from a distant relative, and you want to invest it for the long term. Provide an investment portfolio that includes five different stocks. Report the...
In a college health fitness program, let X denote the weight in kilograms of a male freshman at the beginning of the program and Y denote his weight change during a semester. Assume that X and Y have...
1) The government decided to reduce taxes on fast-food to increase revenue. The government assumes that fast-food products have a) An inelastic demand b) An elastic demand c) A demand curve that is...
Read the following and then answer the questions below:September 12: A Brisbane business offers by letter to sell 500 tyres to a New Zealand company. The Brisbane company does not specify a method of...
Fred returns home from work one day to discover his house surrounded by police. His wife is being held hostage and threatened by her captor. Fred pleads with the police to rescue her and offers...
Would like you to revisit one of these. Consideration must be clear and measurable.if you can't measure it then how can you show it has / has not been done?How can you sue someone for breach of...

Disclosures relating to inventories Griffith Manufacturing Ltd reported inventories in its statement of financial position as follows:

Question:

Inventories $75 511 500

Step by Step Answer:

AASB 102 paragraph 36 requires Griffith Manufacturing Ltd to disclose the following information abou...View the full answer

Financial Reporting

Students also viewed these Business questions