IAS 2 Inventories contains accounting rules and principles that need to be followed with respect to inventories when financial statements of a company are being prepared according to IFRS. The major requirements of IAS 2 are regarding the determination of cost on initial recognition, the subsequent ...
Summary This chapter describes IAS 2 inventories presentation and recognition. At recognition, inventories are measured at cost, which comprises all costs of purchase, costs of conversion, and other costs incurred in bringing the inventories to their present location and condition. The costs of ...
the accounting policies adopted in measuring inventories, including the cost formula used; the total carrying amount of inventories and the carrying amount in classifications appropriate to the entity; the carrying amount of inventories carried at fair value less costs to sell; the amount of ...
2、imates and errors 30chapter 3 banlance sheet and income statement3.1 ias2 inventories34 3.2 ias11 construction contracts 413.3 ias18 revenue493.4 ias23 borrowing costs563.5 ias37 provisions, contingent liabilities and contingent assets 613.6 ias12 income taxes 773.7 ias16 property, plant, and equ...
10 ADOPTION OF IAS IN THE EU BY JANUARY 2005 AND MICROSOFT DYNAMICS NAV IAS 2 INVENTORIES SUMMARY OF IAS 2 The objective of IAS 2 is to prescribe the accounting treatment for inventories under the historical cost system. It provides guidance on the determination of the cost of inventories and...
113 Summary CHARPTER 1 SUMMARY 1.1 Accounting Regulation 广义的会计规范所覆盖的范畴很广,其形成方式也各不相同。有的会计规范是会计从业人员及其他相关人员在长期的会计实践中逐步形成的无强制性的习惯和规则,即会计惯例;有的会计规范则是通过一定正式形式为人们所公认的,这类会计规范一般由国家有关部门或会计职业...
biological assets生物资产inventories存货 trade and other receivables应收账款和其他应收款 cash and cash equivalents现金及现金等价物 trade and other payables应付账款和其他应付款 provisions准备financial liabilities金融负债 liabilities and assets for current tax应交税金 deferred tax liabilities and deferred tax...
CHAPTER 3 BANLANCE SHEET AND INCOME STATEMENT 3.1 IAS2 Inventories………34 3.2 IAS11 Construction Contracts……… 41 3.3 IAS18 Revenue………49 3.4 IAS23 Borrowing Costs………56 3.5 IAS37 Provisions, Contingent Liabilities and Contingent Assets……… 61 3.6 IAS12* Income Taxes……… 77 3.7 ...
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 ...
assets;inventories;property,ntandequipment;andprovisionsthataretobe settledbythedeliveryofanon-maryasset. SummaryoftheapproachrequiredbythisStandard 17Inpreparingfinancialstatements,eachentity—whetherastand-aloneentity,an entitywithforeignoperations(suchasaparent)oraforeignoperation(suchasa ...