--%>

Difference between the periodic and perpetual process

What is the main difference between the periodic and perpetual process, how will you record it in your note-book?

E

Expert

Verified

The periodic inventory system adjusts inventory and records costs of goods merely at the end of each and every reporting period. As you have to count you’re ending inventory by the hand. Perpetual inventory system constantly records both modifications in inventory costs and inventory quantity.

   Related Questions in Financial Accounting

  • Q : Introduction of the term Financial

    Give a brief introduction of the term ‘Financial Accounting’. And also write down its elements?

  • Q : Modigliani-Miller equation In

    In Modigliani-Miller equation, why is market value of the levered firm is more than the market value of an equivalent unlevered firm?

  • Q : Deviations from purchasing power parity

    Explain about deviations from purchasing power parity for countries competitive positions within the world market.

  • Q : Abatement The process of allocating the

    The process of allocating the arrears of estate assets to the distributions. Distributions from the estate proceed in a particular order starting with specific legacies, effusive legacies, general legacies, and finally residuary legacies. If legacies assets are not capable to meet the will's prov

  • Q : Trends in international business

    Explain three important trends which have prevailed in the international business during last two decades.

  • Q : Fundamental characteristics of

    State the fundamental characteristics of bureaucracies.

  • Q : Hedging transaction exposure and money

    Compare and discuss the hedging transaction exposure by using the forward contract vs. money market instruments. When the optional hedging approaches do creates the same result?

  • Q : Incremental cash flows of capital

    Describe what you mean by the incremental cash flows of a capital project.

  • Q : Causes of current account deficits

    United States has experienced constant current account deficits since early 1980s. List some of the major causes of the deficits? What could be the consequences of these constant U.S. current account deficits?

  • Q : Define the term Accounts Payable

    Accounts Payable: It is an accounting entry which symbolizes an entity's obligation to pay off a short-term debt to its creditors. Accounts payable entry is found on balance sheet beneath the heading current liabilities. Accounts payable are frequentl