Unit8IAS2Inventories存货 Keyterms Openinginventory期初存货Closinginventory期末存货Purchasecost采购成本Costofconvention加工成本Tradediscount商业折扣Rawmaterials原材料Workintheprocess半成品Finishedgoods完成产品Specificidentification具体辨认法FIFO(firstinfirstout)先进先出法 Key...
Inventories Inventories Compared With CAS 1 History of IAS 2 History of IAS 2 • 1975.10 –IAS 2 Valuation and Presentation of Inventories in the Context of the Historical Cost System • 1993.12 –IAS 2 Inventories –revised as part of the 'Comparability of ...
However the other requirements of IAS 2 still apply.DefinitionsInventories are assets:that are held for sale in the ordinary course of business i.e. merchandise or finished goods which are usually sold by a given type of business. For example, shoes are finished goods (and thus inventory) ...
IAS 2 International Accounting Standard 2 Inventories This version includes amendments resulting from IFRSs issued up to 31 December 2009. IAS 2 Inventories was issued by the International Accounting Standards Committee in December 1993. It replaced IAS 2 Valuation and Presentation of Inventories in the...
Example1(a), p348 Example1(a), p348 Continued • When the circumstances which previously caused inventories to be written down below cost no longer exist, the amount of the write-down is reversed so that the new carrying amount is the lower of the cost and the revised net reali...
This occurs, for example, when agricultural crops have been harvested or minerals have been extracted and sale is assured under a forward contract or a government guarantee, or when an active market exists and there is a negligible risk of failure to sell. These inventories are excluded from ...
Part 3: Chapter 1 – Inventories (IAS 2) IAS 2 - INVENTORIES DEFINITION Inventories are assets Held for sale in the ordinary course of business; In the process of production of such sale; or In the form of materials or supplies to be consumed in the production process or in the ...
国际会计准则2ias 2雅思.pdf,IAS2 InternationalAccountingStandard2 Inventories In April 2001 the International Accounting Standards Board (IASB) adopted IAS 2 Inventories , which had originally been issued by the International Accounting Standards Committe
Credit Inventories: CU 6 000 In this very basic example, the company knew exactly what amount should have been recognized in cost of sales, because the acquisition cost (purchase price in this case) was CU 30 per chocolate. But what happens when the company purchases chocolates in batches at...
The standard IAS 38 says that if you sell the intangible asset not as a part of ordinary business (side note – if you sell the intangible asset within the ordinary course of business, then IAS 38 does not apply at all, but IAS 2 – inventories), then you recognize the “profit on ...