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A Complete Standard in original issued IAS 02 Inventories

Resource No: RS037/2026
Global
Resource Information
Country Global Group International Financial Reporting Standard (IFRS)
Category Issued by International Accounting Standards Board (IASB) Sub-Category IAS 02 (Inventories)
Written By by WITSYNC Team Designation WITSYNC Compliance
Effective Date 2001-04-01
Short Brief
The objective of this Standard is to prescribe the... The objective of this Standard is to prescribe the accounting treatment for inventories. A primary issue in accounting for inventories is the amount of cost to be recognised as an asset and carried forward until the related revenues are recognised. This Standard provides guidance on the determination of cost and its subsequent recognition as an expense, including any write‑down to net realisable value. It also provides guidance on the cost formulas that are used to assign costs to inventories.
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