Luqman Rafiq | IAS 2 Inventory: NRV Measurement & Its Complications

IAS 2 Inventory requires an entity to measure inventory at the lower of cost or net reliable value (NRV). There are certain concepts of NRV measurement which many people dealing with IFRS in their studies are unaware of.
This video discusses when to write down inventories and whether reversal in inventory write down is allowed to be recognized or not.
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[@LuqmanRafiq]

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[@husnainali-ox4dq]

Really appreciate your efforts, each steps and concept explained very efficiently.

[@LuqmanRafiq]

So nice of you

[@SatyamMoondra]

maksad nahi bhoolna bhaijaan

[@mustafarehan2506]

Jazakumullahu Khairan

[@petrochemtrade960]

5:59 sir suppose karein hum crude oil he sale kartey hein ….and crude oil 50 se 45 per agaya tab hum 45 per record karenge …. But ye jo invenoty loss he isko unrealizable loss comprihensice me record karenge ?? Qk it might possible k crude oil 31st decmber ko 45 per ho but 1st january ko wapas 50 per ajaey

[@haramtariq4267]

Helpful

[@aadhilahmed14]

Good explanation

[@farhantahir7639]

I NEED ALL YOUR VIDEOS SIR, PLEASE SHARE LINK.

[@allaboutreporting]

Very nicely explained..Thanks

[@LuqmanRafiq]

Many thanks

[@momentcaptures9162]

Great job

[@NaveeDAhmaD37962]

Thank you

[@LuqmanRafiq]

You're welcome

[@surajgawas839]

Sir, While calculating NRV do we have to subtract expected profits??

[@LuqmanRafiq]

No. Its only the expected costs to complete and expected selling costs that need to be deducted

[@lifewithquranandsunnah4335]

Love You 💓💝 Thanks

[@LuqmanRafiq]

Most welcome 😊

[@petrochemtrade960]

How to record unrealized loss on inventory cuz of MTM

[@avisaxena3193]

Asset has a value of 1,00,000 which has NRV of 90,000 can u suggest the journal entry if the good is lost by fire for 50,000 out of which 40,000 will be paid by insurance company out of which 30,000 is already paid?

[@MohdBilal-el2hm]

Dr Cash 30k Dr Ins Rec. 10k Dr Loss P/l 10k Cr Inventory 50k

[@mohamedjafran4696]

Useful💯💯💯💯

[@LuqmanRafiq]

Thanks a lot

[@lakshmidevimailakuntla5683]

Extraordinary teaching Sir. Thank you

[@LuqmanRafiq]

Thank you very much for the appreciation

[@mtalhajust4982]

I LOVE YOU

[@UbaidUllah-zd2zx]

Sir Urdu ma lecture dia kran English ni aati ap ko 😅😅

[@LuqmanRafiq]

Check out a video on overheads using link: kzbin.info/www/bejne/gJm9amyvoM5sn5I

[@deadkachu7678]

Sir say salammaulakum before u start video , Allah blessings will be with u.