IFRS: Inventory (IAS 2)

Available Anytime
Location: Online
1Credits
Accounting and Auditing
Registration is Open
FICPA Members
$39.00 Regular Price
Nonmembers
$49.00 Regular Price
Product Code: AI23-IFRSCERT-D
Level: Basic
Vendor: AICPA CPE Division
Field of Study: Accounting

Overview:

This course is part of the IFRS Certificate Program - a comprehensive, integrated curriculum that will give you the foundational training, knowledge, and practical guidance in international accounting standards necessary in today's global business environment.

This self-study course addresses requirements of IAS 2, Inventories, including the following

  • Definition of inventory, including assets excluded from the scope of the definition
  • Measurement methods
  • Write-downs to net realizable value
  • Cost formulas used to assign inventory value

This course includes interactive learning elements, video content, and real-life application through case studies.

Note: Individual courses purchased within the last year can be applied toward the purchase of the IFRS Certificate Program. Find out more.

Objectives:

Learning Outcomes

  • Recall how the initial measurement of inventory is determined.
  • Identify the cost formulas that are permitted by IAS 2, Inventories.
  • Recall how to calculate the appropriate carrying amount of inventory at the reporting date.


Prerequisite:

Familiarity with financial reporting and accounting principles under IFRS