Inventory is something almost all businesses have, be it in the form of consumables or goods sold by retailers, or even internally produced.
Even entities providing services are required to keep track of their “cost of sales”, which is dealt with in this section of IFRS for SMEs.
This session focuses on inventory from the SMEs standard, and will help you understand inventory costing, closing valuation and impairment.
Session 7:
• Section 13: Inventories
o What types of costs may form part of inventory-costing
o Measurement of cost
o Inventory write-downs
o Disclosure
☒Financial managers
☒Auditors
☒Bookkeepers
☒Financial accountants
☒First year SAICA Trainees
☒Audit mangers
☒Audit partners
☒Engagement Quality Control Reviewers
