IAS 2 – Inventories

This course is designed for students, members, chartered accountants and public accountants working with inventory assets. Given the importance of inventory management and reporting it is critical for any professional bookkeeper, auditor, accountant and others in finance and accounting to have knowledge about the scope, recognition criteria and implications of IAS 2 Inventories.

IAS 2 provides guidance for determining the cost of inventories and the subsequent recognition of the cost as an expense, including any write-down to net realizable value. It also provides guidance on the cost formulas that are used to assign costs to inventories.

In nutshell, this course covers the scope, basics, recognition and disclosures of IAS 2 inventories.

Course Key Concepts: Inventories, IAS 02, IFRS, International accounting standard, IAS, LIFO, FIFO, AVCO, NRV, Net realizable value, Cost, Inventory valuation, GAAP, CPA, CMA.