Mastering Ias 2: Inventories

Mastering Ias 2: Inventories
Published 1/2025
MP4 | Video: h264, 1920×1080 | Audio: AAC, 44.1 KHz

Learn Inventory Measurement, Cost Formulas, NRV Adjustments, and Accounting under IAS 2

What you’ll learn

Understand the definition and classification of inventories under IAS 2.

Calculate the cost of inventories including purchase price, conversion costs, and overheads.

Apply cost formulas like FIFO and Weighted Average for inventory valuation.

Measure inventories at the lower of cost and NRV and handle write-downs and reversals effectively.

Recognize and record inventory transactions in financial statements with proper journal entries.
Prepare and interpret disclosures related to inventories in compliance with IAS 2.

Requirements

Basic accounting knowledge (e.g., debits, credits, and financial statements).

Familiarity with financial reporting principles is helpful but not mandatory.

A calculator and basic spreadsheet skills for practice exercises are recommended.

Description

Overview

Section 1: IAS 2 – Inventories

Lecture 1 What are Inventories?

Lecture 2 Measurement and Cost of Inventories

Lecture 3 Illustration – Cost of Inventory

Lecture 4 Measurement Techniques and Cost Formulas

Lecture 5 NRV and Accounting for Inventories

Accounting and finance students preparing for exams like ACCA, CA, and CPA.,Auditors and accountants looking to strengthen their expertise in inventory accounting.,Business owners and managers who need to understand inventory valuation and reporting.,Finance professionals working with inventory-intensive businesses such as retail, manufacturing, and distribution.