Scribd Logo
Importer

Bienvenue sur Scribd !

  • Accounting For Inventories: Ifrs - Ias No.2

    Transféré par

    Wellyngton Silalahi
    39 vues6 pages
    This document summarizes accounting standards for inventories under IFRS - IAS No. 2. It defines inventory as items held for sale, in production, or to be consumed in production or services. Inventories must be recognized when ownership is obtained, whether in transit under FOB shipping point or destination terms or on consignment. Measurement methods include specific identification, FIFO, weighted average, or net realizable value of individual items, with no difference in inventory cost. Disclosures required are the accounting policy, measurement method, and amounts and types of inventories.

    Description originale:

    Titre original

    IFRS+ +Inventory

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Formats disponibles

    PPT, PDF, TXT ou lisez en ligne sur Scribd

    Avez-vous trouvé ce document utile ?

    Ce contenu est-il inapproprié ?

    Signaler ce document
    This document summarizes accounting standards for inventories under IFRS - IAS No. 2. It defines inventory as items held for sale, in production, or to be consumed in production or services. Inventories must be recognized when ownership is obtained, whether in transit under FOB shipping point or destination terms or on consignment. Measurement methods include specific identification, FIFO, weighted average, or net realizable value of individual items, with no difference in inventory cost. Disclosures required are the accounting policy, measurement method, and amounts and types of inventories.

    Droits d'auteur :

    Attribution Non-Commercial (BY-NC)
    Téléchargez comme PPT, PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    39 vues6 pages

    Accounting For Inventories: Ifrs - Ias No.2

    Transféré par

    Wellyngton Silalahi
    This document summarizes accounting standards for inventories under IFRS - IAS No. 2. It defines inventory as items held for sale, in production, or to be consumed in production or services. Inventories must be recognized when ownership is obtained, whether in transit under FOB shipping point or destination terms or on consignment. Measurement methods include specific identification, FIFO, weighted average, or net realizable value of individual items, with no difference in inventory cost. Disclosures required are the accounting policy, measurement method, and amounts and types of inventories.

    Droits d'auteur :

    Attribution Non-Commercial (BY-NC)
    Téléchargez comme PPT, PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    sur 6

    IFRS – IAS No.

    Accounting for
    Inventories
    Definition of Inventory
    • Items that are:
    – held for sale in the ordinary course of business;
    – In the process of production for such sale;
    – In the form of materials or supplies to be consumed in
    the production process or in the rendering of services
    Recognition
    • Ownership of inventory
    – Good in transit
    • Fob shipping point
    • Fob destination
    – Consignment sales
    Measurement
    • Lifo is not allowed, but:
    – Specific identification
    – FIFO
    – Weigthed average
    – Net realizable value on individual item basis
    • No difference in cost of inventory
    Case
    Disclosure
    • Accounting policy
    • Method to measure inventory
    • Amounts & types of inventories

    Vous aimerez peut-être aussi