IFRS standards for accounting of inventories

Discussion in 'General Accountancy Discussion' started by raman, May 6, 2015.

  1. raman

    raman

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    IFRS is fast catching up as the accounting standard. I am new to IFRS and would like to know the accouting principles for inventory management. Is it same as GAAP or different ?
     
    raman, May 6, 2015
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  2. raman

    raman

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    Guys. Got it online...IAS 2.... FIFO and LIFO methods... thanks!!

    Found the video here....
     
    raman, May 6, 2015
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  3. raman

    Fidget VIP Member

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    I haven't watched your video, but be aware that LIFO is not permitted under IAS 2.
     
    Fidget, May 9, 2015
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