This e-learning course is part of an e-learning series designed by PwC Könyvvizsgáló Kft. which aims to provide a comprehensive overview of the application of IFRS (IAS) standards to finance and accounting experts who are already familiar with fundamental (Hungarian) accounting and reporting processes. Our instructors - experts in IFRS - designed the professional materials according to the IAS 2 Inventories standard currently in force. They made the curriculum more accessible by including practical examples and interim tests to help knowledge assessment. The material ends with a test questionnaire. The publication Illustrative IFRS Consolidated Financial Statements issued by PwC Könyvvizsgáló Kft. is part of the materials.
The e-learning introduces the following topics:
- Definitions: scope of IAS 2, types of inventories
- Recognition: accounting for recognition and derecognition of inventories
- Measurement: net realisable value, standard cost, weighted average cost, FIFO method, provision against inventories, reversal of provision
- Test your knowledge