IAS 2 Inventories | ACCA F2 | ACCA F3 | ACCA F7 | CMA | CPA | CIA | CIMA | CA | Financial Reporting

This video from Commerce Specialist explains IAS 2 Inventories.
Detailed explanation is given on the accounting treatment of inventory as per IAS 2, the scope of IAS 2, the recognition criteria as per IAS 2, the measurement criteria as per ias 2, presentation requirements of ias 2 and the Disclosure requirement of IAS 2.
Detailed explanation is also given about NRV, how to calculate net realizable value and the application of NRV in ias 2.
This video is relevant for students of CMA Part 1, ACCA F3, ACCA F2, Financial Accounting, Cost Accounting, Management Accounting, ACCA F7, Financial Reporting, CIMA, CA, CPA, CIA, MBA as well as for Accounting and for Finance Managers.
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#ias2inventories #inventoryvaluation #standardforinventories

[@manahilghani2571]

Thank you sir for explaining. I'm a student of CMA

[@CommerceSpecialist]

Thats nice👍

[@HassanAbbasi-gy1hk]

U are best. And Please explain disclosure in detail and with example

[@CommerceSpecialist]

Sure

[@JohnEfa-kp8pu]

thank you sir. i love watching your videos from Nigeria

[@CommerceSpecialist]

Thx dear

[@trynesshara9379]

This is great🎉

[@CommerceSpecialist]

Thanks🙏👍

[@jhangirtanveer1422]

I am a teacher too. You have very well explained. Commendable!

[@CommerceSpecialist]

Thanks a lot👍🙏

[@gabrielmtambo9243]

Well explained...thank you From ZAMBIA

[@CommerceSpecialist]

Thanks Gabriel❤️🙏🙏😊👍

[@salmanhuda3169]

Sir need IFRS 13, have possible

[@pakistaninternational.9855]

I enjoyed but it seems a short video. Please tell us about Accounting Policy.

[@CommerceSpecialist]

Sure dear

[@trynesshara9379]

​@@CommerceSpecialist waiting

[@saranyasubramaniam2968]

How to know the movements of inventories and how its finalised?

[@CommerceSpecialist]

These days e.thing is computerized, so no issues

[@Simple437]

A product, Paint, measured at cost, 460,000, as at 31 March 20X7. In April 20X7, 70% of this inventory was sold for 280,000 on which ABC Co s’ sales staff earned a commission of 15% of the selling price. What is the carrying amount of the inventory in the statement of financial position as at 31 March 20X7

[@CommerceSpecialist]

30% of original cost

[@CommerceSpecialist]

Also check cost or NRV which ever is lower at reoorting date

[@chmahnoorkhalid098]

Kindly make some more detailed videos on its 2

[@CommerceSpecialist]

@@chmahnoorkhalid098 its already there

[@Alaa-kz1ci]

Anyone has taken any paper with them?

[@aliimran7620]

Hello Sir,This is Ali Imran here,having 13 years of Industry experience in both accounting and ERP for SAP Business One. I want to be an adept at IAS and IFRS. In the past I joined CA classes but unable to afford it so I opted bachelors and learnt almost what was Included in the subjects but when I do accounting i always prefer to understand the scenario and present the solution as by nature but the standard always helped. Will you please help me to learn it because I am eager to learn and you know almighty has blessed me the IQ level which helps me to understand thoroughly although I have got experienced now. Plz help for the sake of almighty God. Thank you 🙏

[@CommerceSpecialist]

Dear Ali Keep watching my videos, thats all i can say, if you need any specific assistance, let me know.

[@aliimran7620]

@@CommerceSpecialist Thank you