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IAS 2 - Coggle Diagram
IAS 2
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MEASUREMENT
similar to IAS 36 principle, but NRV is entity specific
(FVLCTS is an exit price)
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DEFERRED TAX
normally Acc + Tax agree, therefore no def tax
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IAS 23 borrowing cost added to Inventory Cost , therefore are deductable (added back w/ Closing Stock)
W/ "other assets", Borrowing Costs aren't added to TB's
EXPENSE RECOGNITION
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write downs are expensed, disclose them too
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