1A - Fudan 2014 Period Costs as Product Costs

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1、PeriodCostsAsProductCosts?MeaningsofProductCostProduc-Market-DistributionConsumerR&DDesigntioningServiceInventoriableReimbursableproductcostsgovernmentcontractcostsDecision-relevantcosts2TypeofInventoriableProductPeriodCompanyCostsCostsServiceAllcostsalongtheNoneCompanyvaluechainPurchasespl

2、uscostofAllcostsexcepttotalMerchandiserfreight,importduties,etc.purchasesAllcostsexceptDM,ManufacturerDM,DL,MOHDL,MOHAccountingInventoryonbalanceImmediatelyexpenseTreatmentsheetuntilsoldProduc-Market-DistributionConsumerR&DDesigntioningServiceIFRSExpenses(PeriodCosts)Costsareincurredforact

3、ivitiesthatdonotdirectlycreateproducts,butsupportthecreationofproducts.Thesecostsarechargedtoexpenseaccountsduringtheaccountingperiodincurredandthusare4calledperiodexpenses.IFRSPeriodExpensesAdministrativeExpenses1.Corporateofficers2.Corporatebuildings3.Corporatecostsliketheannualauditfee

4、s4.CorporatecountryclubcostsSelling(Marketing)ExpensesDistributionExpenses5IFRSProductCostForWork-in-ProcessandFinishedGoodsinventorypurposes(IFRS),onlymanufacturingcostsareincludedin“product”costs.Productcostsremainininventoryuntiltheassociatedproductaresoldordeclineinvalue.Whentheass

5、ociatedproductsaresold,the“productcost”isaddedtoCostofGoods6Sold.ProductCostsVersusPeriodCostsProductcostsincludedirectPeriodcostsincludeallmaterials,directlabor,andsellingcostsandmanufacturingoverhead.administrativecosts.InventoryCostofGoodSoldExpenseSaleBalanceIncomeIncomeSheetStatementSt

6、atementProductCostFlowsWorkInProcessFinishedGoodsBeginningworkinBeginningfinishedprocessinventorygoodsinventory+Manufacturingcosts+Costofgoodsfortheperiodmanufactured=Totalworkinprocess=Costofgoodsfortheperiodavailableforsale–Endingworkin-Endingfinishedprocessinventorygoodsinventory=Costofg

7、oodsCostofgoodsmanufacturedsoldManufacturingCostFlowsBalanceSheetIncomeCostsInventoriesStatementMaterialPurchasesRawMaterialsExpensesDirectLaborWorkinProcessManufacturingOverheadCostofFinishedGoodsGoodsSoldSellingandPeriodCostsSellingandAdministrativeAdm