IFRS for SMEs 7 - Inventories

Price:
R486.45 (VAT Incl.)
Level:
Accounting Professionals
Sub-level:
IFRS for SMEs
Lecturer:
Tristan David-Crewe White
Duration:
150 Minutes
Additionals:
   CPD Assessment
   Certificate

Lesson Outline

Inventory is something almost all businesses have, be it in the form of consumables or goods sold by retailers, or even internally produced.

Even entities providing services are required to keep track of their “cost of sales”, which is dealt with in this section of IFRS for SMEs.

This session focuses on the inventory accounting requirements, and will help you understand inventory costing, closing valuation and impairment.

  1. Section 13: Inventories
  2. What types of costs may form part of inventory-costing
  3. Measurement of cost
  4. Inventory write-downs
  5. Disclosure
  6. We seek to empower you as an accountant in finance as well as auditor / reviewer in public services, by:
  7. Identifying when a business is required / permitted to apply the requirements section
  8.   Establishing what the requirements are / guidance is per section, relative to:
  9. Definitions
  10. Recognition
  11. Initial and subsequent measurement
  12. Discussing any accounting policy elections available
  13. Identifying the disclosure requirements and where possible, providing illustrative examples