📄 Abstract
In this study, IAS 2 Inventories standard is examined and the real-world accounting applications related to inventories are presented.IAS 2 Inventories is an accounting standard, which is part of the International Financial Accounting Standards (IFRS). It is the framework for the accounting treatment of inventories. Inventory makes up substantial part of the total asset value. Therefore, value determination and presentation of inventories is a fundamental part of accounting.The contribution of this work is highlighting the components which make up the value of inventories and the importance of choosing the inventory valuation method in managerial decision making. Moreover, accounts are suggested for journal entries to record inventory related costs.
🏷️ Keywords
📚 How to Cite:
Goolbahor Karimova, Feruza Abidjanova , THE APPLICATION OF IAS 2 INVENTORIES STANDARD IN ACCOUNTING PRACTICES , Volume 8 , Issue 12, december 2021, EPRA International Journal of Socio-Economic and Environmental Outlook(SEEO) ,