1
Q
What legislation deals with the recording of inventory in financial statements?
A
IAS 2
2
Q
How must inventory be valued in the financial statements?
A
At the lower of cost or NRV (net realizable value)
Accounting 4
flashcards
Decks in class (32)
# Cards
-
The Goal Of Finanical Accounting3
-
Conceptual Framework4
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Events After Reporting Period5
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Fair Value Measurement7
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Provisions, Contingent Liabilities and Assets8
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Revenue23
-
Inventory2
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Deferred Taxes14
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Property, plant And Equipment2
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Impairment9
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Leases25
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Accounting Policies, Estimates And Errors0
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Foreign Exchange Transactions0
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Investment Properties15
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Financial Instruments26
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Intangible Assets12
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Share Based Payments8
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Employee Benefits9
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Borrowing Costs6
-
Non-current Assets Held For Sale and Discontinued Operations1
-
Business Combinations15
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Consols: Buy And Sell Shares & General Rules21
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Consolidations: Mixed And Vertical Groups1
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Consolidations: Sub issues shares5
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Consolidations: Foreign Operations3
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Consolidations: Cash Flows1
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Consolidation Standards12
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Related Parties0
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Interpretation Notes0
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Consolidation general rules3
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Other Accounting Rules2
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Presentation Of Financial Statements3
