Vor dem Hintergrund der weitreichenden wirtschaftlichen Folgen der Corona-Krise … Der Standard hat trotz des Namens innerhalb der IFRS eine weit über die Bilanzierung von Vorräten hinausreichende Bedeutung, da in vielen anderen Standards auf die dort formulieren Bewertungsvorschriften verwiesen wird. 3. Die Änderungen sind auf Geschäftsjahre anzuwenden, die am oder nach dem 1. IFRS 2 requires the share-based payment transaction to be measured at fair value for both listed and unlisted entities. When inventories are sold and revenue is recognised, the carrying amount of those inventories is recognised as an expense (often called cost-of-goods-sold). Financial instruments, share based payments, employee benefits and statistics standards: IFRS 9/ IFRS 2/ IAS 19/ IAS 33 8 - 9 March 2021 Accounting for associates and joint ventures, group related standards: IAS 28/ IFRS 3/ IFRS 10/ IFRS 11 %PDF-1.6 %���� Biological assets (IAS 41)Does not apply to measurement of inventories held by: 1. [IAS 2.34]. IASB issues amendment to IFRS 2 . endstream endobj startxref [IAS 2.21-22], For inventory items that are not interchangeable, specific costs are attributed to the specific individual items of inventory. (See IFRS 13 Fair Value Measurement.) IFRS 2 requires an entity to recognise share-based payment transactions (such as granted shares, share options, or share appreciation rights) in its financial statements, including transactions with employees or other parties to be settled in cash, other assets, or equity instruments of the entity. Z. m. der Reform von Referenzzinssätzen (sog. Create your account. 2 | PricewaterhouseCoopers – A practical guide to accounting for agricultural assets IAS 41, ‘Agriculture’, is a small standard with a wide scope and a significant impact on those entities within its scope. Geraldine Jennings Director, Accounting Consulting Services, PwC Switzerland Aug 31, 2020. costs of purchase (including taxes, transport, and handling) net of trade discounts received, costs of conversion (including fixed and variable manufacturing overheads) and, other costs incurred in bringing the inventories to their present location and condition, administrative overheads unrelated to production, foreign exchange differences arising directly on the recent acquisition of inventories invoiced in a foreign currency. It provides guidance for determining the cost of inventories and for subsequently recognising an expense, including any write-down to net realisable value. The standard provides guidance on the determination of cost and its subsequent recognition as an expense, including any write-down to net realisable value. Accordingly, as an alternative to disclosing cost of goods sold expense, IAS 2 allows an entity to disclose operating costs recognised during the period by nature of the cost (raw materials and consumables, labour … Subscribe to PwC updates . The main issues are the determination of the cost of inventory and Net Realizable Value, its subsequent accounting treatment, and the guidance on the cost formulas for the valuation of inventories. In the Spotlight: A Corporate Treasury Focus on Phase 2 Amendments for Interest Rate Benchmark (IBOR) Reform The IASB has issued further amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 that address issues arising during the reform of benchmark interest rates, including the replacement of one benchmark rate with an alternative one. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox. IAS 2 prescribes the accounting treatment for inventories. IAS 2 – Inventories Timeline and summary from Deloitte IAS Plus, with information on related interpretations and amendments under consideration. [IAS 21.2] Key definitions [IAS 21.8] Functional currency: the currency of the primary economic environment in which the entity operates. 1 of 3 Save and exit Continue Cancel IAS 2 BC Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. IAS 2 Inventories Objective . das IFRS IC im Rahmen der endgültigen Agenda-Entscheidung nicht mehr, ob eine Bilanzierung des Rechts als Vorratsvermögen i. S. d. IAS 2 möglich ist, da dies nicht gefragt wurde und auch die Grenzen einer Agenda-Entscheidung überschreiten würde. Anwendungsbereich • IAS 2 ist grundsätzlich für alle Vorräte anzuwenden • Ausgenommen von IAS 2 sind: unfertige Erzeugnisse aus jahresübergreifenden Fertigungsaufträgen (siehe IAS 11), Finanzinstrumente (siehe IAS 39) und bestimmte biologische Vermögenswerte und IAS 16 is applied in accounting for property, plant and equipment. 3. For groups of inventories that have different characteristics, different cost formulas may be justified. It provides guidance for determining the cost of inventories and for subsequently recognising an expense, including any write-down to net realisable value. The standard provides guidance on the determination of cost and its subsequent recognition as an expense, including any write-down to … 41����v��D��'Qr�,TK�C=a�3�vL_��4��97�~'�!�w �������9�y.Nw��۽N�I�U�m�M��5�F-��A:h��2��f���R�,pp���f�=���_0��gŨqW��R�r"iɭBJ�������T M�]^���G�ҹ2��l4���51��`�m忊{�P�J��RtN���5Q*���C����2�0or/����ϴ2�ɢ��e���`�Ej�]��{臶9���ϲ���Ez"9WLJp$�w�b�>� �z�w5��Y0,D��`�0i_-N-�4�yi|H]̢=! [IAS 2.6], However, IAS 2 excludes certain inventories from its scope: [IAS 2.2], Also, while the following are within the scope of the standard, IAS 2 does not apply to the measurement of inventories held by: [IAS 2.3], Inventories are required to be stated at the lower of cost and net realisable value (NRV). Inventories (IAS 2) Revenue from contracts with customers (IFRS 15) Investment entities (IFRS 10) Separate financial statements (IAS 27) Investment property (IAS 40) ... PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. It provides training courses based on the best ... IAS 2 Inventory IAS 16 Property, plant and equipment Session 1 IFRS 10 Consolidated financial statements (Part 2) IFRS 3 Business combinations (Part 2) [IAS 2.23]. IAS 1 refers to the balance sheet as the statement of financial position. Our latest insights. 2. endstream endobj 1284 0 obj <>>>/Filter/Standard/Length 128/O(���m�*ql,'If����orO�܉�NO@S�)/P -1052/R 4/StmF/StdCF/StrF/StdCF/U(�h���M�k{��k� )/V 4>> endobj 1285 0 obj <>/Metadata 82 0 R/Outlines 104 0 R/PageLayout/OneColumn/Pages 1279 0 R/StructTreeRoot 167 0 R/Type/Catalog>> endobj 1286 0 obj <>/ExtGState<>/Font<>/ProcSet[/PDF/Text/ImageC]/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 1287 0 obj <>stream Meine Zeit als Leiter der Fachabteilung bei PwC endet zum 30. All rights reserved. It also provides guidance on the cost formulas that are used to assign costs to inventories. IAS 2 sets out the accounting treatment for inventories, including the determination of cost, the subsequent recognition of an expense and any write-downs to net realisable value. Topics covered include the de­f­i­n­i­tion of inventory, costs clas­si­fied as … [IAS 2.25] The LIFO formula, which had been allowed prior to the 2003 revision of IAS 2, is no longer allowed. 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