Ias 2 inventories Study guides, Study notes & Summaries

A summary of the definition, categories, measurement, systems, and net realisable value of inventory as well as the manufacturing cost and application rates and extended credit terms.

How is revenue treated that is receivable 2 years after the goods are delivered? The amount of revenue initially recognised is the amount receivable discounted to present value. Interst is then applied to the receivable as interest income over 2 years IFRS 9 requires investments in equity instruments to be measured and accounted for ( in the absence of any election at initial recognition)? Fair value with changes going through profit or loss What are acceptable methods of accounting for a g...

CONCEPTUAL AND PRACTICAL APPROACHES TO THE ASSESSMENT OF ACCOUNTING PRACTICES ACCOUNTING DOCTORAL SCHOOL DOCTORATE THESIS CONTENTS INTRODUCTION 9 Motivation and the importance of research 10 The purpose and objectives of the research 11 Current state of knowledge 12 Research Methodology 14 CHAPTER 1. THEORETICAL APPROACHES OF VALUE AND EVALUATION 19 1.1. Discussions for development of accounting as a science 20 1.1.1. Early Periods ...

What if not followed IAS or IFRS? Not True and Fair = UNETHICAL Why PRINCIPLES not RULES? Principles harder to circumvent Why have a FRAMEWORK? Provides guidances for standards setters Gives guidance where no standards exist Helps all parties with intrerpretation 2 x Useful qualities of financial information RELEVANCE = Influences Decisions FAITHFUL REPRESENTATION = Complete, Neutral, No Errors What does RELEVANCE offer? PREDICTIVE VALUE CONFIRMATORY VALUE 4 X Qualities of FAITHFU...

True The objective of this Standard is to prescribe the accounting treatment for property, plant and equipment so that users of the financial statements can discern information about an entity's investment in its property, plant and equipment and the changes in such investment. The principal issues in accounting for property, plant and equipment are the recognition of the assets, the determination of their carrying amounts and the depreciation charges and impairment losses to be recognised in ...

Chapter 03 International Convergence of Financial Reporting Multiple Choice Questions 1. According to Sir Bryan Carsberg, former IASC Secretary-General, what is the most significant cost of accounting diversity? A) The time expended by accountants to create multiple sets of financial statements conforming to different national standards B) The cost of the IASB to regulate compliance with many national accounting standards C) The reduction in effectiveness of the international m...

All asset notes in one place: IAS 2 - Inventories IAS 16 - PPE IAS 36 - Impairment of assets IAS 38 - Intangible assets IAS 40 - Investment Property Summarised information with additional examples and explanations as well was class questions and answers

CPCE Multiple Choice 143 Questions With Verified Answer 2023 Wellness is the state of: a. physical well being b. spiritual well being c. psychological well being d. all of the above - CORRECT ANSWER all of the above The individual self model of wellness is based on _____ psychological theory a. Freud b. Adler c. Roger d. Ellis - CORRECT ANSWER Adler A person who loves to travel to new destinations and once there, enjoys exploring cultural epicenters and new types of food pro...

NAPSR CNPR Exam Pharma companies must submit extensive data to the FDA demonstrating the safety and effectiveness of new drugs before receiving approval for sale. - ANS True Average review time for a new drug - ANS 18 months Sales Team - ANS Pg 7 The "engine of innovation," focused on discovering or inventing promising new product. - ANS Research & Development This includes supply chain, manufacturing, trade, and distribution functions of the business. - ANS Man...

CPCE Form B Practice Exam 136 Questions with Verified Answers 2023 ______________is considered to be the "father of vocational guidance." а. Frank Parsons b. Donald Super с. E. G. Williamson d. Jesse B. Davis - CORRECT ANSWER a Incorporating the culture of the client into the session would suggest that the counselor is a. using the assimilation model. b. operating from an etic perspective. c. operating from an emic perspective. d. color blind - CORRECT ANSWER c ...