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These excerpts taken from the AAPL 10-K filed Dec 1, 2005. Inventory Pricing, to clarify the accounting for abnormal
amounts of facility expense, freight, handling costs, and wasted material
(spoilage). ARB 43, Chapter 4, previously stated that “under some
circumstances, items such as idle facility expense, excessive spoilage, double
freight, and rehandling costs may be so abnormal as to require treatment as
current period charges.” SFAS 151 requires that those items be recognized as
current-period charges regardless of whether they meet the criterion of “so
abnormal.” In addition, SFAS 151 requires that allocation of fixed production
overhead to the costs of conversion be based on the normal capacity of the
production facilities. SFAS 151 is effective for fiscal years beginning after June 15,
2005. Although the Company will continue to evaluate the application of SFAS
151, management does not currently believe adoption will have a material impact
on the Company’s results of operations or financial position.
In December 2004, the FASB issued FSP 109-2, Inventory Pricing, to clarify the accounting for abnormal amounts of facility expense, freight, handling costs, and wasted material (spoilage). ARB 43, Chapter 4, previously stated that “under some circumstances, items such as idle facility expense, excessive spoilage, double freight, and rehandling costs may be so abnormal as to require treatment as current period charges.” SFAS 151 requires that those items be recognized as current-period charges regardless of whether they meet the criterion of “so abnormal.” In addition, SFAS 151 requires that allocation of fixed production overhead to the costs of conversion be based on the normal capacity of the production facilities. SFAS 151 is effective for fiscal years beginning after June 15, 2005. Although the Company will continue to evaluate the application of SFAS 151, management does not currently believe adoption will have a material impact on the Company’s results of operations or financial position. In December 2004, the FASB issued FSP 109-2, This excerpt taken from the AAPL 10-Q filed Aug 3, 2005. Inventory Pricing,
to clarify the accounting for abnormal amounts of facility expense, freight,
handling costs, and wasted material (spoilage). ARB 43, Chapter 4, previously
stated that “under some circumstances, items such as idle facility expense,
excessive spoilage, double freight, and rehandling costs may be so abnormal as
to require treatment as current period charges.” SFAS 151 requires that those items be
recognized as current-period charges regardless of whether they meet the
criterion of “so abnormal.” In addition, SFAS 151 requires that allocation of
fixed production overhead to the costs of conversion be based on the normal
capacity of the production facilities. SFAS 151 is effective for fiscal years
beginning after June 15, 2005. Although
the Company will continue to evaluate the application of SFAS 151, management
does not currently believe adoption will have a material impact on the
Company’s results of operations or financial position.
In December 2004, the FASB issued FSP 109-2, This excerpt taken from the AAPL 10-Q filed May 4, 2005. Inventory Pricing,
to clarify the accounting for abnormal amounts of facility expense, freight,
handling costs, and wasted material (spoilage). ARB 43, Chapter 4, previously
stated that “under some circumstances, items such as idle facility expense,
excessive spoilage, double freight, and rehandling costs may be so abnormal as
to require treatment as current period charges.” SFAS 151 requires that those items be
recognized as current-period charges regardless of whether they meet the
criterion of “so abnormal.” In addition, SFAS 151 requires that allocation of
fixed production overhead to the costs of conversion be based on the normal
capacity of the production facilities. SFAS 151 is effective for fiscal years beginning
after June 15, 2005. Although the
Company will continue to evaluate the application of SFAS 151, management does
not currently believe adoption will have a material impact on the Company’s
results of operations or financial position.
In December 2004, the FASB issued FSP 109-2, This excerpt taken from the AAPL 10-Q filed Feb 1, 2005. Inventory Pricing, to clarify the
accounting for abnormal amounts of facility expense, freight, handling costs,
and wasted material (spoilage). ARB 43, Chapter 4, previously stated that “under
some circumstances, items such as idle facility expense, excessive spoilage,
double freight, and rehandling costs may be so
abnormal as to require treatment as current period charges.” SFAS 151 requires that those items be
recognized as current-period charges regardless of whether they meet the
criterion of “so abnormal.” In addition, SFAS 151 requires that allocation of
fixed production overhead to the costs of conversion be based on the normal
capacity of the production facilities. SFAS 151 is effective for fiscal years
beginning after June 15, 2005. Although
the Company will continue to evaluate the application of SFAS 151, management
does not currently believe adoption will have a material impact on the Company’s
results of operations or financial position.
In December 2004, the FASB issued FSP 109-2, | EXCERPTS ON THIS PAGE:
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