IFRS

IAS 2: Your Guide to Understanding Inventories

IAS 2: Your Guide to Understanding Inventories

Welcome to our simplified guide on IAS 2, the International Accounting Standard that lays down the rules for how businesses account for their “inventories” – basically, all the stuff they have on hand to sell or use in making things to sell. The Big Idea Behind IAS 2 The main goal of this standard is…