EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
Recent Searches
Agenda decision clarifies costs necessary to sell inventories
The IFRS Interpretations Committee has clarified what costs are necessary to sell inventories when determining net realisable value.
Entities will need to use judgement, considering the specific facts and circumstances (including the nature of inventories), to determine which of their costs are necessary to sell their inventories under IAS 2 Inventories. However, entities will not be able to limit the costs they include to those that are only incremental if doing so would exclude non-incremental costs that must be incurred to sell inventories.