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3 Cards in this Set
- Front
- Back
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Inventory Criteria |
1. Ordinary business activity 2. Process of production for such sales 3. Form of material or supplies to be consumed in the production process or in the rendering of serviceinveny |
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Inventory - IFRS vs ASPE Differences |
IAS 23 - requires the capitalization of borrowing costs ASPE 3031 - allows a choice to either capitalize borrowing cost or expense them |
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Inventory Costs |
Includes costs to bring inventory to location, net of rebates, duties and unrecoverable taxes *doesn’t include storage cost or shipping costs to customer |
