This session will cover the following: ● Definitions: Net Realisable Value & Inventories ● Recognition ● Measurement at recognition ● Measurement after recognition ● Recognition as an expense ● Inventories disclosure

Individuals who require a high level overview and awareness of the core GRAP accruals based standards including: - finance and accounting managers of public sector entities that have adopted GRAP or are in the process of doing so - accounting practitioners, consultants and external auditors, analysts of public sector entities - accountants and finance staff of public sector entities and similar agencies (e.g. Municipalities) that have adopted GRAP or are in the process of doing so - accountants and finance staff moving from private to public sector environments - government officials and project managers responsible for GRAP transition - operations managers of public entities needing an awareness of public sector financial reporting - internal auditors of entities that have adopted GRAP or are in the process of doing so.