Financial Statements Prepared for Use in Other Countries 2205 the United States, the auditor may report using either (a) a U.S.-style reportmodiï¬ed to report on the accounting principles of another country (see para-graphs.09and.10)or(b)ifappropriate,thereportformoftheothercountry(seeparagraphs .11 and .12).
Retail Inventory Method. The retail inventory method is an accounting system to estimate the ending inventory and cost of goods sold. Essentially, its used to estimate the amount of ending inventory at cost.
However, cost accounting techniques also can help service industry companies understand their costs. One difference in cost accounting practices for service companies is the terminology and construction of the cost of goods sold account.owever, cost accounting techniques also can help service industry companies understand their costs. One difference in cost accounting practices for service companies is the terminology and construction of the cost of goods sold account.