IAS 2 Inventories | International Accounting | International Financial Reporting Standards I

[@envistahomesph8369]

Hi Mr. Farhat, i just started listening to your lecture last night and its really full pack of knowledge, this channel is highly recommended ..

[@AccountingLectures]

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[@allwood4256]

I love your classes, you are excellent teacher.

[@AccountingLectures]

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[@DingasPro]

This will help me a lot with my financial accounting test

[@AccountingLectures]

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[@shenellparker8413]

Helpful, I watch the ads fully... you deserve it

[@AccountingLectures]

Thank you so much 😀 Please subscribe and share. If you want to access more resources, check my website: ✔farhatlectures.com/ ✔Instagram: @farhatlectures ✔ Linkedin: www.linkedin.com/in/professorfarhat/ ✔Facebook:@accountinglectures ✔Twitter: @farhatlectures 🎤Email: [e-mail]

[@aselcanbaz3726]

Thanks a lot for posting the updated information. I'm currently working on the case and this video is very helpful.

[@AccountingLectures]

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[@aaroacademy]

Very Helpful - Thank You.

[@masumahmad679]

It's really helpful

[@AccountingLectures]

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[@nadeemsiyal664]

Wonderful

[@AccountingLectures]

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[@yehiaragb2169]

dr farahat what is the meaning of compelet cost in the inventoey assessment are you mean any direct materials or lamor or overhrad ? i think all costs i mentioned is included in historical cost .

[@thula14]

Thak you prof, i am thinking of doing CPA

[@AccountingLectures]

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[@TV-ep7vu]

thanks for you lecture, it is very useful

[@AccountingLectures]

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[@sabbirbari5798]

Just a confusion tho, why should we consider NRV when the replacement cost is lower than that? 18:00 Shouldn’t we take the RC as the inventory cost, and reverse the loss by 70?

[@sqlam]

Hi Prof, was wondering what it means that IAS 2 allows standard cost method? let's say for a manufacturer, does it mean that cost transferred to COGS when the particular inventory is sold is computed based on standard cost (computed at the date of sale) rather than the cost recognised for that particular inventory when it was manufactured and accordingly, transferred to COGS using the FIFO method? was hoping you could also make a video with regards to the linkage between standard cost method and the cost flow assumption

[@peacelove654]

Do we assume the same inventory in next reporting period also ? What if the price goes up to 1100?

[@mohammaddwidar1889]

Thanks sir for this amazing effort, will you complete IFRS course sir??

[@AccountingLectures]

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[@mohammadaamir82]

Thanks you Sir

[@AccountingLectures]

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[@arahmanfarah9403]

thnk u prof. i would like to ask u my critical example and i confused so i wnt u to solve which is INVENTORY VALUATION : a company has an inventory on hand at the end of the reporting period as follows UNITS RM COST FOH SELLING COST EXPECTED SP 1 .ITEMS 300 160 15 12 185 2. ITEMS 250 50 10 10 75 required @ at what amount will inventories be stated in the statement of financial position in acordance with IAS 2?

[@chandanjuneja8781]

What about the Finance cost on the loan taken to bought raw material etc.. will that form part of the inventory cost?

[@username100037]

Take a look at IAS 23, no..

[@allwood4256]

do you have a video of landed cost and clearing account?

[@AccountingLectures]

not sure about the term.

[@annasafridi5374]

can u make a video on import inventory