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PCG » Topics » Inventory Costs

These excerpts taken from the PCG 8-K filed Oct 28, 2005.

Inventory Costs

 

In December 2004, the FASB issued Statement No. 151, “Inventory Costs an amendment of ARB No. 43, Chapter 4”, or SFAS No. 151.  The guidance clarifies that the allocation of fixed production overhead to inventory is based on normal capacity.  Abnormal amounts of idle facility, excess freight, handling costs and spoilage should be recognized as a current period charge.  SFAS No. 151 will be effective January 1, 2006.  The adoption of SFAS No. 151 is not expected to have a material effect on the financial position or results of operations of either PG&E Corporation or the Utility.

 

Inventory Costs

 

In December 2004, the FASB issued Statement No. 151, “Inventory Costs an amendment of ARB No. 43, Chapter 4”, or SFAS No. 151. The guidance clarifies that the allocation of fixed production overhead to inventory is based on normal capacity. Abnormal amounts of idle facility, excess freight, handling costs and spoilage should be recognized as a current period charge. SFAS No. 151 will be effective January 1, 2006. The adoption of SFAS No. 151 is not expected to have a material effect on the financial position or results of operations of either PG&E Corporation or the Utility.

 

This excerpt taken from the PCG 10-K filed Feb 18, 2005.

Inventory Costs

        In December 2004, the FASB issued Statement No. 151, "Inventory Costs an amendment of ARB No. 43, Chapter 4", or SFAS No. 151. The guidance clarifies that the allocation of fixed production overhead to inventory is based on normal capacity. Abnormal amounts of idle facility, excess freight, handling costs and spoilage should be recognized as a current period charge. SFAS No. 151 will be effective January 1, 2006. The adoption of SFAS No. 151 is not expected to have a material effect on the financial position or results of operations of either PG&E Corporation or the Utility.

EXCERPTS ON THIS PAGE:

8-K (2 sections)
Oct 28, 2005
10-K
Feb 18, 2005

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