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Period Cost and its Impact on Financial Statement

Author

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  • Alina Magdalena ILCUS

    (1 Decembrie 1918 University of Alba Iulia, Romania)

Abstract

Period costs are extremely important for financial disclosure because they are running directly in the P&L account, having an immediately impact on income statement, and thus on financial performance. In the management accounting, period costs are deducted from revenues without ever having been included as part of inventory, whereas in the financial accounting they are assigned to the accounting period. In this paper we posit that employees benefits (IAS19) represent period costs, highlighting the main difference in treatment of fringe benefits on the short term and on the long run, where accrual approach intervenes. (IAS37).

Suggested Citation

  • Alina Magdalena ILCUS, 2017. "Period Cost and its Impact on Financial Statement," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 18(3), pages 315-325, July.
    • Handle: RePEc:rom:rmcimn:v:18:y:2017:i:3:p:315-325
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    File URL: https://rmci.ase.ro/no18vol3/07.pdf
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    References listed on IDEAS

    as
    1. Ionela-Corina CHERSAN, 2016. "Corporate responsibility reporting according to Global Reporting Initiative: an international comparison," The Audit Financiar journal, Chamber of Financial Auditors of Romania, vol. 14(136), pages 424-424, Aprilie.
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    More about this item

    Keywords

    period costs; treatment in month end closing; accrual accounting method; fringe benefits.;
    All these keywords.

    JEL classification:

    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
    • J33 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Compensation Packages; Payment Methods

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