These include:
*Conventions for assigning costs to particular goods sold where specific identification is infeasible.
*Methods for attributing common costs, such as factory burden, to particular goods.
*Methods for determining when costs are recognized in computing cost of goods sold or to be sold.
*Methods for recognizing costs of goods that will not be sold or have declined in value.

Trading or ordinary and necessary business expenses

Many systems, including the United Kingdom,

1.Previous
3.Next