IFRS Module 4 InventoriesCode: 20-IFRS4

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Course Details

44 pages

Module 4 of the IFRS Learning Module series presents an overview of IAS 2 Inventories, the
accounting standard for classifying and measuring inventories in IFRS financial statements. This
module also discusses the IASB’s and FASB’s efforts towards achieving convergence in this area
of financial reporting.


After completing this course, participants should be able to:
• Identify major classifications of inventory.
• Distinguish between perpetual and periodic inventory systems.
• Describe the items to include as inventory cost.
• Describe and compare the formulas used to measure inventories in IFRS financial statements.
• Explain when reporting entities measure inventories at net realizable value in IFRS financial statements.

Presentation Method: QAS Self-Study

Category: Accounting

CPE credit: 4 Hours

Program Level: Intermediate

Prerequisites: General understanding of GAAP and Accounting.

Advance Preparation: None

Exam expiration date: Participants must submit exams for grading within one year from the date of purchase.

For more information regarding refunds, complaints, or cancellation policies, please contact our offices at 817-477-0222.

American CPE, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to their website, www.learningmarket.org

NASBA Sponsor number 108096

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