BNET Business Dictionary
Business Definition for: Abnormal Spoilage
- the unexpectedly high level of shortfall that has contributed to an abnormal loss
Additional Resources
- New FASB inventory standard converges with international standard.(FASB/GASB)
- New FASB Statement No. 151, Inventory Costs, an amendment of ARB No. 43, Chapter 4 clarifies that abnormal amounts of idle facility expense, freight, handling costs and wasted materials spoilage should be recognized as current-period charges and re New FASB Statement No. 151, Inventory Costs, an...
- Research articles 2005-01-01
- FASB Issues Accounting Standard That Converges with the IASB's Accounting Standard on Inventory
- NORWALK, Conn. -- The Financial Accounting Standards Board FASB has issued FASB Statement No. 151, Inventory Costs, an amendment of ARB No. 43, Chapter 4. The amendments made by Statement 151 will improve financial reporting by clarifying that abnormal amounts of idle facility expense, freight, handling costs, and wasted materials...
- Research articles 2004-11-24
- Variances, Incentives, and SFAS 151
- While globalization continues to shrink the world by integrating its economies, one necessary outcome appears to be the convergence of accounting standards. Statement of Financial Accounting Standards SFAS 151, Inventory Costs, which went into effect in June 2005 and aims to clarify how corporations account for abnormal amounts of idle...
- Research articles 2007-09-01
