IAS 2 Inventory

Introduction

This topic must be known on level 3 and is extremely important.

 Time management

The estimated study time needed to complete this study unit is 15 hours

 Study material

GRIPPING GAAP -  chapter 13

 Learning Outcomes

On completion of this study unit you should be able to:

 Identify and discuss the recognition of inventories;

 Discuss and apply the initial measurement of inventories;

 Record the subsequent measurement of inventories;

 Treat the de-recognition during sale;

 Complete disclosure in the financial statements in terms of IAS 2.