Factory Utilities
Code: 5122
👁 Views: 134
Account Information
| Financial Statement | Income Statement |
| Normal Balance | Debit |
Definition
Factory utilities such as electricity and water
Note: This account may be broken down into sub-ledgers as needed (e.g., customer/supplier/bank names or branches).
📐 IFRS vs US GAAP Accounting Treatment
IFRS
IAS 2
Inventories
US GAAP
ASC 330
Inventory
❓ Frequently Asked Questions
Q: How are factory utilities (electricity, water) recorded?
A: Charged as manufacturing overhead: Dr. Factory Utilities, Cr. Bank or Accounts Payable.