accounting standards  The new update made amendments on the overall. The changes were based on subsequent measurements of inventory which after the update will have different cost methods. The update

************* ********* ************************************************** provisions ** **** ********* *** ****** **** ********** ** *** ******* *** ******* **** ***** on subsequent ************ of inventory ***** ***** *** update **** have ********* **** methods *** ****** provides that ********* ******** ** other ******* ***** than **** ** ******* ****** inventory ****** ***** *** include inventories ******** ***** ***** ***** ***** out ****** ** ******* **** method shall me ******** at *** lower ** *** cost *** the *** ********** value The ****** **** ******** **** when evidence ****** **** *** *** ********** ***** ** lower **** *** **** the ********** ** *** two ***** be ********** ** a loss of earning ** *** period in ***** it occurs ***** will **** be amendments on *** ********* ****** ** **** and ************* ******** ******** ** the current ********* ********* ******* ***** ******** *********** ***** future ****** It ******** ********** *** constraining estimate ** ******** ************* to be ******** ** *** *********** price *** * contract with a ******** ** paragraphs 606-10-32-5Subtopic 360-10 **** **** ******* *** update which ******** ******** ***** and ********* ******* *** ****** will deal with ********** ** disposal ** ********** ****** ***** **** **** ** an ****** ** agricultural *********** ***** will ** ***** ** ********** measurements ***** the *** ********** *** **** ** ******* ***** shall ** *********** ***** *** **** ** ******* The ******* ** ***** ***** ** ******** using the ******** in sub-topic ****** ** ******* ********** animals **** are to ** **** *** sale ***** be ******** ***** *** ******** in the ********* ****** ********* *** valued ** the ******* **** ** *** ****** ************ ******* held *** **** shall ** evaluated ** ****** *** ****** determined ***** *** measurement ******** ** ********* 330-10 *** ********* ***** ** **** ** market ** ** ********** ******* net ********** value which **** ***** *** ********* ********** which ******* *** product ****** regular ****** ***** which *** ** ********** readily *** ********** market ***** *** ******* ****** **** **** relative ************** *** **** ** ******** ****** ** ****** ********* The ******* should ** **** ** the ****** should ** easily ********* ** ******** ** harvested ***** inventories ** ********* crops ***** ***** ** ********** ***** *** **** ******** as ******* **** *** **** Inventories for ******* ************ ***** be accounted *** ****** *** ****** ********** using the *********** ******** ** ********* ****** or ******* net ********** ********** will **** ** ** update ** *********************** ***** on pooling ************ ***** ** *** ***** ** ********* ** ************ ********* *********** operating ** a ******* basis ******* *** duty to *** ******* fixed ****** ****** amounts **** approximately ********* *** realizable value ** *********** ******* ******** **** ********** *** ********* ******* shall be ******** to ******* *** ** *** ****** ***** **** **** ** ********** ** ******* currency matters ******* ***** will be ******** on ************** guidelines *** illustrations where ** ************** ******** *** focus **** ** ** ************ ********* *** recorded in the functional currency **** amendment **** ******* ********** *********** **** *** ***** ** ****** *** *** ****** ** the ********** ******** *********** ******* at cost ** *** books ** ****** ** ******* currency should ** ***** be **** ************ ** **** in the functional currency ***** historical ******** **************** why FASB ****** *** ********** is ********* **** ****** ** **** ** ** initiative ************** *** main *** ** the ************** initiative is ** ******** ******* *** evaluate ***** ** ********* ******** accounting principles ***** *** complication *** charge *** ** ********* *** ********* *** be made ***** ***** *********** or ********* *** usefulness of the information ******** to the ***** of ********* ********** The ***** also issued the ****** because they ***** **** *** ************ **** *** guidance ** *** subsequent *********** ** *********** *** ************ ***** were not ********* ******* **** *** ********* ******** **** *** simplification ** the *** ****** the ***** **** ** able to *** *** standards in ******* accounting ***** *** ****** **** also ******* an improvement in *** ********* ******** where the ***** **** ** ** * ******** ** ******* ******* ********** ** inventories ** ********* areas ************ **** ***** ** ******* *** services offered ** ********** *** ******* *** ***** ******* *** ************** ** **** ****** different **** *** ******** ************* ******* ****** will ** ******** ******** **** the last ****** ***** the effective **** *** interim reporting ****** **** ** ******* *** ***** **** ** *** ***** ******** apart **** ****** ******** entities **** in this *** update; *** Board decided **** ** ****** ****** apply *** ********** ** *** ****** ************* ** *** ************ ** ********* ***** the **** ** adoption **** ** ********** will ** ******* *** ****** on the ******** ** transition should ** *** ****** of *** *** reason *** the ****** ** accounting principles *** new ****** **** also allow application ** *** *** standards in the ****** of ********* periods unlike *** ******** standardsBenefits ** **** ****** *** ********* ********* ************ *** ********* ********** ********* **** ***** **** *** clients *** *********** *** *** ****** **** ******* *********** **** ** ****** to ******* ** potential ********* ****** ********* and ***** ******* market participants ** ****** **** *********** credits *** ******* ******** ********** *** ********** in **** update will also **** * **** in ******** *** cost of measuring *********** ****** **** update ***** ******* *** ****** ******** on inventories measurements ******** ********** *********** **** *** *** ********** ***** *** ****** ****** also *** increase **** *** ********** of *** ***** ******** ******* determining *** realizable ***** is not necessary to ***** the current ******** *** ****** may **** ****** ** ******** comparability ** ********* ********* ********** ************ ****** *** ********* ******** using ********* methods The ****** **** **** ******** *** ********* ** *** *********** of ********** ****** its ***** **** ** because at ******* *** application of *** ********** ************ guidance *** ****** in ***** ********* ******** of the ********* are **** *** ****** ********* ******* ******** **** **** ********** *** retail ********* methods excluded from **** update ******* *** ******** ********** would ****** in a *** ** ********* ***** mainly **** ********** ************ *** ********** of *** *** ***** *** ******** ***** ********** measurement ** *********** **** some entities **** ******* **** ** ***** ********** *** ********** ********** ***** ** cost or ****** adjustments indicated that the proposed ********** ***** **** ** a significant increase ** ***** inventory balances **** ********** ****** *** ***** **** ******** ** *** ************* **** *** ********** ********** written **** ** *********** ****** be ******** ** form part ** *** **** ***** of ********** **** *** ***** *** not **** want ******** **** measure ********* suing **** ** the ****** ********* ** ********** *********** significant transition **** ******* *** amendments *** not ****** **** **** ******** *********** to *** ***** of financial ********** *** ********** ***** **** *** ******** *** ********** for those ******** ******* of *** inherent ********** involved ** ********** **** ***** *** use ** LIFO and the ****** ********* ************* ************** ******* ****** ** *** ****** ********** ** higher ***** ** lower **** ****** **** ********** ******* *** artificial profits *** ** **** ********** ********* such ** ********* ** *********** ******* earning ** *** most ****** **** **** ** predict a company *********** and expected changes ** ******* *** ***** *** ******** ****** ** equity *** ****** ** * *********** ********* ** both measures Net ****** includes ******** ******** gains *** losses in ******** * corporate ****** ********* may therefore ******* many **** items *** ********* ********* ***** **** are ************* items **** ** discontinued ********** abnormal ***** *** losses *** *** ********* ** ******** that has been **** ineffective Earnings *** share data ****** ** the ****** ** the ********************************************* A The key ********** provided ** the ****** ******** *********************** ***** on pooling cooperatives ***** if *** ***** ** ********* ** ************ marketing *********** ********* on * ******* ***** ******* any **** ** pay ******* ***** ****** ****** ******* that ************* estimated net ********** ***** to *********** product ******** **** ********** *** ********* ******* ***** ** ******** to amounts due ** *** ****** ***** **** **** ** ********** ** ******* ******** ******* ******* which will ** specific on ************** ********** and illustrations ***** ** ************** ******** *** focus **** be ** ************ ********* *** ******** ** the functional ************* **** **** amendments of ************ ********* ** ***** ***** *** ********* *** ***** that are ***** ** *** farm Under the *** ********** the **** ** ******* crops shall ** accumulated until *** **** ** ******* ********** ******* **** *** to ** **** for **** ***** ** ******** using the ******** in the ********* ****** ********* *** valued ** *** ******* **** ** *** ****** ************ ******* **** *** **** ***** be evaluated ** ****** *** ****** ********** ***** the *********** ******** in ********* ****** *** excluding lower ** **** or ****** ** ** determined through *** realizable ***** ***** **** ***** *** ********* ********** which ******* *** product ****** ******* market price which *** be determined ******* *** ********** ****** ***** *** ******* ****** **** **** ******** insignificance *** **** ** disposal ****** ** easily predicted ***** **** **** an amendment **** **** **** **** ********** ** **** lived ****** in *** **************** BFASB issued *** update ** order to ease *** process in ***** *********** **** ** ********** *** performing ************ *** board also ****** *** ****** ******* **** heard **** *** ************ **** *** guidance ** *** ********** *********** ** *********** had ************ ***** **** *** ********* ******* **** *** ********* outcomes *** *** ****** **** ******* *********** **** ** ****** ** present to ********* investors ****** ********* *** ***** capital ****** ************ ** ****** **** *********** ******* and ******* ******** ********** The amendments ** **** update **** **** **** * role ** ******** *** cost ** ********* *********** ****** this ****** ***** because *** recent guidance ** *********** measurements ******** estimating *********** **** *** net ********** ************ earning is *** most ****** used **** ** ******* a ******* *********** *** expected ******* in ******* per share and ******** ****** ** ****** *** ****** ** * *********** component ** **** measures *** income includes ******** expenses ***** *** losses in ******** * ********* ****** ********* *** ********* ******* many **** ***** *** ********* Appearing below **** *** ************* ***** such ** ************ ********** abnormal gains and ****** and *** write-off of ******** **** has **** **** ineffective                 References"Update 2015-11—Inventory (Topic ***** ******* ** **** *** ** *** *********** * * (2015) ********** *** ********* ************ accounting *********** for ******** ****** John Wiley ***** ********** * * (2006) ************* Accounting Standards The ************* ****** ************* * ****** * ***** Langsam S ****** ******** of ************** of ********** ********** *** ********* *** ****** ** Other Simplification ********* ******* ** ********* ********** ***** ******* ***** ************ * (2015) *** Implication of ** **** *** **** *********** ** ******** ******** ******* * 1Zimmerman * * ****** *** **** of ********** ** *** ************ century **** ********** *** ******** ******** 45(4) *****************