Accounting for Assets under IFRS: What You Need to Know about Invenotries/Borrowing Costs IAS 2 & 23 

Learning Objectives:
Obtain a relevant historical perspective, deepen your understanding of current standards, and acquire the critical hands-on experience that will allow you to effectively interpret and properly apply International Financial Reporting Standards for Inventory and Borrowing Costs (IAS 2 and 23). At the conclusion of this session you will be able to:

• Define the scope of Inventory under International Accounting Standard 2 (IAS 2)
• List the definition of Inventories under IAS 2
• Outline the methodologies utilized to value Inventory under IAS 2
• Compare and contrast U.S. GAAP and IAS Inventory valuation methodologies
• Outline the rules followed when Inventories are recognized as an expense under IAS 2
• Define the Inventory disclosure requirements under IAS 2
• Define the scope of Borrowing Costs under IAS 23
• List the definition of Borrowing Costs under IAS 23
• List the rules utilized to determine if Borrowing Costs should be capitalized under IAS 23
• Define the Borrowing Cost disclosure requirements under IAS 23
• Compare and contrast Borrowing Costs under IFRS (IAS 23) and U.S. GAAP (SFAS 34)
• Access a checklist on when and how to apply IAS 2 and 23

Delivery Method:
Self-Study

Program Level:
Intermediate