Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
This course is designed for learners who want a clear understanding of inventory accounting under International Financial Reporting Standards. Inventories often form a large part of business assets, so errors in their measurement can affect profit, tax, and financial position. Throughout this course, you will learn what qualifies as inventory, which items fall outside the standard, and how inventory cost is calculated.
The course will also explain how to apply the lower of cost and net realizable value rule and when inventory write-downs are required. You will review accepted cost formulas and learn how inventory expenses are recognized in profit or loss. Practical examples and scenario-based assessments help link the rules to real business situations. By the end of the course, you will be able to apply IAS 2 requirements with confidence in both academic and professional settings.
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Key Takeaways
Upon completion of this course, learners will be able to:
- Explain the scope and objective of IAS 2.
- Identify items that qualify as inventories.
- Measure inventory at cost and net realizable value.
- Apply correct cost formulas to different inventory types.
- Record inventory write-downs and reversals correctly.
- Present and disclose inventory information as per IAS 2.
Who Will Benefit
This course is ideal for accounting and finance professionals and auditors who need a solid understanding of inventory accounting under IFRS. It will help them accurately measure, value, and report inventory, ensuring compliance and reliable financial statements.
How to Access the Course
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To access the course on your computer please visit our BlackBoard site, and log-in using the same login and password used for the Registration Portal.
Please allow up to 15 minutes after registration for the course to appear on your BlackBoard page.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Learnsignal is a fully online accountancy and finance training provider, partnering with institutes around the world to deliver expert CPD training and help accountants of all levels upskill and grow their careers. With headquarters in Dublin, and a wealth of heritage in the education and accountancy training industry, Learnsignal have quickly become one of the largest Online Training Providers in the world.