IAS 2 : Accounting for Inventories 2 Credits
Learning mode
As the largest or second-largest item on the balance sheet, and a significant item on the income statement (cost of goods sold), accounting for inventory is a high importance.
IAS 2 has changed how companies account for inventories on their financial statements. It covers accounting for inventories. It applies to all inventories except financial instruments and biological assets. IAS 2 requires the accountant to measure the fair value of inventory by choosing among several alternative methods. But just exactly how do you do it? This online CPE Webinar will provide you with easy-to-follow guidelines that will ensure that you are able to comply with IAS 2.
A primary issue in accounting for inventories is the amount of cost to be recognized as an asset and carried forward until the related revenues are recognized. Guidance on the determination of cost and its subsequent recognition as an expense, including any write-down to net realizable value as on the cost formulas that are used to assign costs to inventories are provided.
This online CPE Webinar on Accounting covers the following Key Topics :
License details | Credits | Status |
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Accounting for Certified Public Accountants (CPA-US) | 2 CPE | Approved |
Accounting for CPA in Canada | 2 CPD | Eligible |
Financial Accounting for Certified Internal Auditors (CIA) | 2 CPE | Eligible |
Financial Reporting for Certified Management Accountants (CMA) | 2 CPE | Eligible |
Accounting for Chartered Financial Analyst (CFA) | 2 PL | Eligible |
Accounting for Delaware Licensed Public Accountant (DE-LPA) | 2 CPE | Eligible |
Accounting for Certified Government Financial Manager (CGFM) | 2 CPE | Eligible |
Accounting for Certified Fraud Examiner (CFE) | 2 CPE | Eligible |
Accounting for Internal Audit Practitioner (IAP) | 2 CPE | Eligible |
Association of Chartered Certified Accountants (ACCA) | 2 CPD | Eligible |
Chartered Accountant - ICAEW | 2 CPD | Eligible |
Financial Reporting for Certified Financial Forensics (CFF) | 2 CPD | Eligible |
Financial accounting for Certified Valuation Analyst (CVA) | 2 CPE | Eligible |
Accounting for Qualification in Internal Audit Leadership (QIAL) | 2 CPE | Eligible |
Accounting for Iowa Licensed Public Accountant (IA-LPA) | 2 CPE | Eligible |
Accounting for Maine Licensed Public Accountant (ME-LPA) | 2 CPE | Eligible |
Business and Asset Valuation for Chartered Business Valuator (CBV) | 2 CPD | Eligible |
CPA - Ireland | 2 CPD | Eligible |
Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) | 2 CPE | Eligible |
Chartered Accountants - Scotland | 2 CPD | Eligible |
Chartered Accountants - Ireland (CAI) | 2 CPD | Eligible |
Financial accounting concepts for Certified FP&A Professional (FP&A) | 2 CE | Eligible |
Accounting for CIPM | 2 PL | Eligible |
Credits
Course Level
Instructional Method
Pre-requisites
Advance Preparation
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AS
Great overview of accounting for inventory under the IAS 2, as well as how it links into other IAS/IFRS standards.
JJN
well expalined , if you want to understaind IAS2 it`s the course to follow
Jan 27, 12:30 PM ET
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