IAS 2 Inventory
Whether you’re working in a large multi-national company or in a small business, accurate valuation of your inventory is essential. Inventory can make up a huge proportion of an organisation’s current assets, which means any errors in the inventory valuation can have a material impact on the reported profit.
Take Ted Baker, the British luxury clothing retail company, for example. In 2020, around half of its current assets was inventory or £131 million in monetary terms. A lot of inventory to record and keep track of year-on-year! During that same year, Ted Baker was found to have overstated its inventory by £58 million; the correction of which would wipe out an entire year of profit! This impacted the ability of the organisation to pay dividends to shareholders and caused the share price to drop 6%.
In this course, we’ll provide you with the necessary knowledge and skills to comply with the international standard for inventory valuation, IAS 2. We’ll take you step-by-step through how to measure and record the value of your organisation’s inventory properly, providing you with sought-after skills and knowledge that will be both an asset to your company and to your career as an accountant.
Provides 4 hours of CPD
- Record and measure inventory using different methods to suit the needs of your business and remain compliant with IAS 2
- Provide a true and fair representation of your company’s profit to users of the financial statements through correct calculation of the cost of goods sold
- Calculate the value of current assets accurately, ultimately contributing to the company’s value
The course also offers a range of practice questions that you can use to consolidate your learning and test your knowledge.
By correctly answering the accompanying test questions, you can earn a certificate of completion for your completed CPD hours.
What’s included in the course?
- Thoroughly explores the concepts, theories and models for this topic
- The content is professionally explained by our expert tutors alongside a visual presentation
- Come with downloadable audio files so you can listen to the content offline and on the go
- Full coverage of the video content using engaging and easy-to-follow language
- A range of examples to show you how these concepts might apply to real-life situations, e.g. in finance
- A practical exercise for each module based on the subject’s application in a finance team
- A series of questions designed to test your understanding of what you’ve learnt on the course
- Designed to get you to apply what you’ve learned to scenarios and commit the theory to memory
- The visual presentation from the video can be accessed for note-taking and for browsing alongside the video or audio download
- Can be viewed as still slides or in an interactive format to move around the screen
Purchasing the course
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Astranti CPD Course:
IAS 2 Inventory
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