IAS 2 Inventories replaced IAS 2 Valuation and Presentation of Inventories in the Context of the Historical Cost System (issued in October 1975). In December 2003 the Board issued a revised IAS 2 as part of its initial agenda of

IAS 2 provides guidance for determining the cost of inventories and the subsequent recognition of the cost as an expense, including any write-down to net realisable value. It also provides guidance on the cost formulas that are used to assign costs to inventories.

IAS 2 Inventories outlines the accounting treatment for inventories, including cost determination and recognition as an expense.

IAS 2 is an international financial reporting standard produced and disseminated by the International Accounting Standards Board (IASB) to provide guidance on the valuation and classification of inventories.

International Accounting Standard 2 Inventories (IAS 2) is set out in paragraphs 1⁠–⁠42 and the Appendix. All the paragraphs have equal authority but retain the IASC format of the Standard when it was adopted by the IASB.

2025年1月6日 · IAS 2 outlines the accounting requirements for inventories. This standard is applicable to all inventories with the exception of financial instruments (addressed by IAS 32 and IFRS 9) and biological assets covered by IAS 41.

IAS 2 sets out the accounting treatment for inventories, including the determination of cost, the subsequent recognition of an expense and any write-downs to net realisable value. Scope Applies to all inventories except: - work in progress on construction and service contracts (IAS 11); - financial instruments (IAS 32 and IFRS 9); and

Accounting requirements relating to inventories are specified in the IAS 2 Inventories standard. It tells us, among others, what the definition of an inventory is and what should and should not be included in the cost of an inventory at initial recognition.

In this video, we explore IAS 2 – Inventories, a key IFRS standard that outlines the accounting treatment for inventories. Topics covered include: Definitio...

IAS 2 Inventories Effective Date Periods beginning on or after 1 January 2005 DEFINITION SCOPE Inventories are assets: Held for sale in ordinary course of business In the process of production for such sale In the form of materials or supplies to be consumed in the production process or in the rendering of services. All inventories except: