Title: Choose A Current International Accounting Standard (Ias) Or International Financial Reporting Standard (Ifrs). Briefly Summarise Its Provisions And Assess Whether The Standard Can Be Considered To Be ‘Principles-Based’ Or ‘Rules-Based’, E...

Essay Details

Subject: Business
Author: John W
Date: December 23, 2015
Level: University
Grade: A
Length: 4 / 1110
No of views: 0
Essay rating: good 0, average 0, bad 0 (total score: 0)

Essay text:

It provides guidance not only for determining the cost of inventories and for subsequently recognising an expense, involving any write-down to net realisable value, but also on the cost formulas that are used to assign costs to inventories. The definition of Inventories in IAS 2 includes work in process (assets in the production process for sale in the ordinary course of business), finished goods (assets held for sale in the ordinary course of business) and raw materials (materials and supplies that are consumed in production)...

Showed first 250 characters

Do you need an essay?

Here are the options you can choose from:

  • Order plagiarism free custom written essay
  • All essays are written from scratch by professional writers according to your instructions and delivered to your email on time
  • Prices start from $12.99/page

Do you need many essays?

FULL access to essays database

  • This option gives you the immediate access to all 184 988 essays
  • You get access to all the essays and can view as many of them as you like for as little as $28.95/month

[IAS 2.6] As the fundamental Principle of IAS 2, Inventories should be measured at the lower of cost and net realisable value (which is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale). [IAS 2.9] The measurement of cost of inventories shall comprise all costs of purchase (including taxes, transport, and handling), costs of conversion (including fixed and variable manufacturing overheads) and other costs incurred in bringing the inventories to their present location and condition...

Showed next 250 characters

If you cannot find any suitable paper on our site, which happens very rarely, you can always order custom written paper which will be written from scratch by our professional writers and deliver to you on requested time.
  • Your research paper is written by certified writers
  • Your requirements and targets are always met
  • You are able to control the progress of your writing assignment
  • You get a chance to become an excellent student!

Total price: $10.00

 

Common topics in this essay:

Comments

Similar Essays: