Unlocking the Essentials of IAS 2: Navigating Current Standards and Trends in Inventories 1

Buy $2.84

Course curriculum

1. PRC Rules, Time Zone and Other Reminders
2. Steps for Online Submission of Self-Directed Learning CPD Training Certificates to the PRC-CPDAS
1. Introduction
2. Program of Activities, Description, and Learning Objectives
3. Learning Outcomes
4. Course Outline
1. Pretest
1. Scope and Applicability of IAS 2
2. Exclusions
1. Measurement
2. Examples: Measurement of Inventories
3. Conversion Costs
4. Net Realizable Value (NRV)
5. Net Realizable Value: Deep Dive
1. Exercise 1: Calculating Inventory Costs
2. Exercise 1
3. Exercise 2: Adjusting for NRV
4. Exercise 2
1. Cost of Goods Sold and Recognizing Inventory as an Expense
2. Recognition as an Expense
3. Common Pitfalls
1. Cost Formulas and Techniques
2. FIFO
3. Weighted Average Cost
4. Specific Identification
1. Periodic vs. Perpetual
2. Periodic Inventory System
3. Perpetual Inventory System
4. Key Differences Between Periodic and Perpetual Systems
1. How IAS 2 Aligns with Inventory Systems
2. Periodic System and IAS 2
3. Perpetual System and IAS 2
4. Choosing the Right System for your Business
1. Key Takeaways
1. How Hybrid Systems Work
1. Inventory Challenges and Solutions
2. Practical Challenges in Inventory Accounting
3. Challenge 1: Inventory Shrinkage
4. Case 1: Tackling Inventory Shrinkage in Retail
5. Challenge 2: Obsolete Inventory
6. Case 2: Tackling Inventory Obsolescence in Technology
7. Challenge 3: Multinational Companies
1. Case Study: Implementing A Hybrid System
1. Final Thought on Inventory Systems
1. Disclosure Requirements
2. Disclosure Requirements: Expanded
1. Course Summary
2. Recap
1. Post-test
1. Evaluation Form - Unlocking the Essentials of IAS 2: Navigating Current Standards and Trends in Inventories 1

About this course

$2.84
50 lessons

Instructor

Aaron James Jarin, CPA, CTT

Lecturer

Aaron James Jarin is a dynamic educator and accomplished professional with a proven track record of excellence in teaching and private industry. As a dedicated instructor armed with a solid academic foundation and experience in management and financial accounting, Aaron is committed to creating engaging, impactful learning environments that empower students to excel academically and professionally. His teaching methodologies are rooted in innovation, practicality, and a genuine passion for student success. Aaron teaches Accountancy at the National University in Clark and works as Accounting Head for a tech company. With his lectures, Aaron continues to inspire learners with his dedication to lifelong education, professional development, and excellence in the Accountancy profession.

Discover your potential, starting today

Master the essentials of IAS 2: Inventories in this engaging lecture designed to enhance your financial reporting acumen. Through practical examples and industry insights, you'll learn how to recognize, measure, and disclose inventories accurately, ensuring compliance and promoting ethical standards. Gain actionable knowledge to optimize inventory management and support sound business decision-making in today's dynamic economic landscape.

Enroll Now