Complying with the inventory capitalization rules

Article Abstract:

The procedures followed by a car dealership to comply with Uniform Capitalization rules are described. The first step was to decide upon the inventory method to be used in allocating additional inventoriable costs to inventory. The Simplified Resale Method was selected after identifying 'Section 263A' costs that applied to the company, including off-site storage and warehousing, purchasing, handling, and administrative costs. The inventories were then restated at the beginning of the fiscal year as if the new Section 263A rules had been in effect all along. Additional Section 263A costs were applied to the underlying last-in-first-out (LIFO) layers for parts and new car inventories valued under the LIFO method. The most difficult task in implementing the new inventory capitalization rules was to calculate the adjustment needed to restate beginning inventories.

Inventories, Managerial accounting, Inventory accounting

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Accounting for productivity: a practical approach

Article Abstract:

Hawaiian Electric Industries has an effective system with which to measure productivity for integration of the data with published financial statements. The system is called productivity accounting. The concept of productivity accounting rests on four criteria: integration, employee motivation, macroeconomics, and easy comprehension.

Industrial productivity, Hawaiian Electric Industries Inc., Productivity accounting

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