Inventory Accounting Policy
Inventories are stated at the lower of cost and net realisable value. The first in, first out or an average method of valuation is used. For finished goods and work in progress, cost includes directly attributable costs and certain overhead expenses (including depreciation). Selling expenses and certain other overhead expenses (principally central administration costs) are excluded. Net realisable value is determined as estimated selling price less all estimated costs of completion and costs to be incurred in selling and distribution.
Write-downs of inventory occur in the general course of business and are recognised in cost of sales.
Source: AstraZeneca PLC, Annual Report
Inventory Disclosure
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AstraZeneca PLC, Statement of Financial Position, Inventory
Source: Based on data from AstraZeneca PLC Annual Reports
| Item |
Description |
The company |
| Raw materials and consumables |
Aggregated amount of unprocessed materials to be used in manufacturing or production process and supplies that will be consumed. |
AstraZeneca PLC's raw materials and consumables increased from 2009 to 2010 and from 2010 to 2011.
|
| Inventories in process |
Carrying amount as of the balance sheet date of merchandise or goods which are partially completed, are generally comprised of raw materials, labor and factory overhead costs, and which require further materials, labor and overhead to be converted into finished goods, and which generally require the use of estimates to determine percentage complete and pricing. |
AstraZeneca PLC's inventories in process declined from 2009 to 2010 and from 2010 to 2011.
|
| Finished goods and goods for resale |
Carrying amount as of the balance sheet date of merchandise or goods held by the company that are readily available for sale. |
AstraZeneca PLC's finished goods and goods for resale declined from 2009 to 2010 but then increased from 2010 to 2011 exceeding 2009 level.
|
| Inventories |
Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). |
AstraZeneca PLC's inventories declined from 2009 to 2010 but then increased from 2010 to 2011 exceeding 2009 level.
|
