Specifics of Accounting for Merchandising Activities (CROSBI ID 142094)
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Podaci o odgovornosti
Ramljak, Branka
engleski
Specifics of Accounting for Merchandising Activities
This paper will focus on the specifics of accounting for merchandising activities as one of the most significant economic activities. Merchandising is present worldwide however this paper will focus on its importance in the Republic of Croatia. Accounting observes all kinds of trading activities by recording, analysing and monitoring all business transactions in wholesale and retail. Accounting should enable objective and truthful presentation of financial position and merchandising company performance. That way high quality accounting information is gained which will enable high quality business decision making as well. The emphasis will be laid on merchandise as inventory. Inventory presents an important part of a company's assets while in merchandising goods are the most important part of inventory. Since goods are current assets which change their form quickly, we will observe all the stages in the movement of goods: from purchase to sale. The increase and decrease of inventory can also be seen in the financial reports: the balance sheet and the profit and loss account. We will try to answer the question whether the chosen accounting policy concerning the inventory can influence the financial performance of a merchandising company. In the field of inventories management can apply an active inventory policy as a constituent part of accounting policies and in that way consciously influence the financial result.
Accounting; Merchandising; Inventory
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