CCH Learning Center

Description:
FASB No. 151, Inventory Costs is a byproduct of FASB's larger standards convergence project with the International Accounting Standards Board to develop a single set of global accounting standards. This course covers the background, requirements and implementation of FASB No. 151, Inventory Costs.

You will learn about changes that were made affecting: capitalization of abnormal amounts of idle facility expense, freight, handling costs, and wasted materials (spoilage); allocation of production overheads; and treatment of G&A and selling expenses. Examples are included throughout the course to give you practice in computing various inventory-related costs.