IAS 2 Inventories - Still applies in 2026
Автор: Cobby Frimpong
Загружено: 2026-02-02
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This lesson is a summary of IAS 2 - Inventories. IAS 2 prescribes the accounting treatment for inventories, requiring them to be measured at the lower of cost and net realisable value (NRV). It covers raw materials, work-in-progress, and finished goods, focusing on cost determination (FIFO or weighted average) and expense recognition.
This lesson does not replace the full standard. Do well to check out the full text on the IFRS Foundation's website.
#ifrs #ifrsaccounting #ias2
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