Learn the concepts of IAS 2 Inventories, which includes Basis of allocation of fixed overhead, Cost not included, Cost formulas, Other methods for ordinary interchangeable inventory and Net realizable value.IAS 2 Inventories part 1 & 2
Learn IFRS (International Financial Reporting Standards) from IMS Proschool,
The 4th Best Institute in India, Ranked by Analytics India Magazine (2018).The program is jointly certified by NSE Academy & IMS Proschool.
What can you find in this Video :
Allocation of fixed overhead (00:05)
Practical Example on fixed overhead (03:00)
Allocation of variable overhead (06:45)
Cost Formula (10:50)
FIFO Method (14:45)
Weighted Average Method (16:25)
Net Realizable Value with example (24:15)
About International Financial Reporting Standards ( (IFRS) :
International Financial Reporting Standards (IFRS) are accounting standards and principles set by the International Accounting Standard Board (IASB) and is becoming the global standard for the preparation of financial statements. Most countries are converging their standards towards IFRS or adopting IFRS as they are, to enable uniform reporting. India, as a step closer to convergence with IFRS, has adopted Ind-AS.
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Why International Financial Reporting Standard?
Various IFRS profiles are being offered in several sectors of the industry that include ITES, software, pharmaceutical, auto spare part, professional advisory companies, auditing firms, banking industry, Insurance industry, KPOs, etc.
Work across the globe
Practical knowledge of these universal standards will open doors across the globe as more than 100 countries have given a green signal in their accounting boundaries.
Establish your consultancy firm
Skilled and experienced IFRS experts can establish their own consultancies to help companies migrate to IFRS
Become a part of a growing profession
Continuous amendments in these standards by regulators is creating a need for IFRS professionals with a thorough understanding of these standards
What will you learn in IFRS Couse : https://www.proschoolonline.com/ifrs-certificate-course
We recommend this IFRS training course for the following professionals in particular:
1.Any Graduate: Commerce graduates with 2 years of experience in the Finance and Accounts department and Graduates from any other field with 3 years of experience in the Finance and Accounts department are eligible
2. Industry Professional: Chartered Accountants
3. Accounting Professionals: Stay updated and continue to grow. Young CAs / IPCC candidates are already enrolling in large numbers.
4.Qualified Professionals: on Accounting professional like MBAs, CSs, CFAs, CFPs can add depth to their understanding of accounting practices and differentiate themselves.
About IMS Proschool :
IMS Proschool is an initiative of IMS learning Resources Pvt. Ltd. Our organization is engaged in providing training and mentoring students from past 35 years. IMS Proschool offers Certifications and training programs in Business Analysis, Data Science, Financial Modeling, Chartered Financial Analyst, Chartered Institute of Management Accounts, Investment Banking & capital Markets, Digital Marketing, Financial Services.
IMS Proschool IFRS training is currently available in Mumbai, Navi Mumbai, Thane, Pune, Delhi, Gurgaon, Bangalore, Hyderabad, Chennai & Kochi. Students outside these cities can undertake the program online.
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