International Accounting Standard 2 Inventories (IAS 2) is set out in paragraphs 1–42 and the Appendix. All the paragraphs have equal authority but retain the IASC format of the Standard when it was adopted by the IASB.

This Standard provides guidance on the determination of cost and its subsequent recognition as an expense, including any write-down to net realisable value. It also provides guidance on the cost formulas that are used to assign costs to inventories.

International Accounting Standard 2 Inventories (IAS 2) is set out in paragraphs 1⁠–⁠42 and the Appendix. All the paragraphs have equal authority but retain the IASC format of the Standard when it was adopted by the IASB.

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. Scope Applies to all inventories except: - work in progress on construction and service contracts (IAS 11); - financial instruments (IAS 32 and IFRS 9); and

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IAS 2 Inventories was issued by the International Accounting Standards Committee in December 1993. It replaced IAS 2 Valuation and Presentation of Inventories in the Context of the Historical Cost System (originally issued in October 1975).

IAS 2 prescribes the accounting treatment for inventories. The standard provides guidance on the determination of cost and its subsequent recognition as an expense, including any write-down to net realisable value. IAS 2 also provides guidance on cost formulas that are used to assign costs to inventories. SCOPE IAS 2 applies to all inventories ...

IAS 2 Inventories The objective of this Standard is to prescribe the accounting treatment for inventories. A primary issue in accounting for inventories is the amount of cost to be recognised as an asset and carried forward until the related revenues are recognised. This Standard provides guidance on the determination of cost and its subsequent ...

This Standard provides guidance on the determination of cost and its subsequent recognition as an expense, including any write‐ down to net realisable value. It also provides guidance on the cost formulas that are used to assign costs to inventories.

IAS 2 Inventories. This Basis for Conclusions accompanies, but is not part of, IAS 2. Introduction. This Basis for Conclusions summarises the International Accounting Standards Board’s considerations in reaching its conclusions on revising IAS 2. Inventories. in 2003. Individual Board members gave greater weight to some factors than to others.