IAS 2-Inventories ( summary with examples )
Objective IAS 2 prescribes the accounting treatment for inventories, focusing on: Measurement Cost determination Expense recognition Write-downs to net realizable
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IAS 2 Inventories (video)
IAS 2 Inventory
IAS 2 Inventory Scope The following items are excluded from the scope of the standard. •Work in progress under construction contracts
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I. VALUATION OF INVENTORY Inventory may include any of: -Finished goods -Work in progress -Material The prudence concept requires that
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IAS 2 INVENTORY (F3) LEARNING OBJECTIVE I.INVENTORY IN THE FINANCIAL STATEMENTS II.YEAR-END INVNETORY ADJUSTMENTS III.TYPES OF INVENTORY IV.IAS 2 INVENTORIES
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