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November 10, 2015 at 12:22 pm
Im a bit confused about the last comment about Inventories belonging to the buyer or supplier. Is that scenario appropriate only at times of liquidation? Who is the eventual owner?
November 10, 2015 at 4:20 pm
Technically the inventory belongs to the supplier until the goods have been paid for. But substance over form …. so long as there is no question that the company may possibly not be a going concern, then we account for the inventory as though ownership has passed.
When there ARE going concern implications, then we need to think again about the Romalpa issue. Where the financial statements are being prepared on a break-up basis, then the appropriate inventory will be excluded
But it all depends on the wording of the contract!
May 23, 2015 at 4:18 am
Where is the chapter eleven lecture on investment in associates?
May 23, 2015 at 8:40 am
If it’s not on the site, then it doesn’t exist
Is it possibly at the end of the consolidated statement of profit or loss video?
October 22, 2014 at 3:37 pm
How are you? I am bit worried about my preparation. As before was pretty sure that 1 question will come from comprehansive income, 1 question will come form construction contract, 1 from cash flow etc. But now as you know the question structure has been change, in this case how can i prepare myself base on question? and how can i prepare for multiple question as well? Many thanks.
October 22, 2014 at 4:50 pm
Please do not multiple post your questions – it only wastes my time and the time of the other tutors when you multiple post for their papers.
I have just answered this post on the Ask the tutor forum
If you want an answer from the tutor, restrict your posts to the Ask the Tutor page and we SHALL get back to you
If you post your question anywhere else, there is no guarantee that we shall see it
October 22, 2014 at 6:44 pm
I am sorry sir, actually i couldnt realised where to put my question on, therefore it has been mutiple by mistake. sorry again.
February 16, 2014 at 5:00 am
Inventories should be valued at the lower of costs and net realisable value.
Is that means inventories can be valued at NRV if we believe that the inventories should not have a carrying value that exceeds the amount we expected to be realised from their sale?
Please reply me.
Thank you for you help.
John Moffat says
February 16, 2014 at 9:05 am
Yes – that is true
February 16, 2014 at 2:16 pm
thank you so much.
March 1, 2014 at 4:52 pm
i think John answer is not appropriate,,,it will be recorded at NRV when not only the carrying value is less than expected from sales but also less than its original cost…may be carrying value which is less than expected sale proceeds is still greater than original cost, so in this case we will record it at cost…i apologies John, if i’m wrong!
March 1, 2014 at 5:32 pm
IAS 2 says that inventory should be valued at the lower of cost and net realisable value.
So inventory can not be valued at more than NRV (which I think is what was being asked).
May 19, 2013 at 9:29 am
you are doing a great job by providing us with free valuable lectures but am unable to benefit from these lectures video takes much time to start at last when it do start then just after 2 3 mints busy sign appear on video this was not so couple of days back and my internet is doing well as i am able to see videos at FB and Youtube. IS it that you website is not responding due to over trafficking from all over? if so then please tell me the down period in a day from your web’s history trend so i can pass F7 am totally relying on OT hope you will do something.
have the Best.
May 19, 2013 at 11:06 am
Try another browser and see if this help
March 28, 2013 at 11:17 pm
not seeing these lectures
March 9, 2013 at 4:47 pm
PLEASE, I WANT THE LECTURE VIDEO ON ASSOCIATES. ITS NOT AMONG THE LECTURE VIDEOS.
PLEASE DO WELL TO PROVIDE IT FOR US
March 18, 2013 at 3:46 pm
i requested for the lecture video on ASSOCIATES but admin. of OpenTuition. u aint replying me.. dont you have the video of that topic? please reply me.. or post the video. thank you.
March 18, 2013 at 10:34 pm
if it is not online then it does not exist..
November 13, 2012 at 1:50 pm
the lecture stops midway. is it due to internet connectivity problem?
November 13, 2012 at 2:20 pm
i’m afraid, it probably is
November 1, 2012 at 8:19 am
i like the presentation
April 18, 2012 at 11:39 pm
thanks to team of this web site for video
April 14, 2012 at 11:16 am
Even after visiting the support team, the video can’t be seen on IAS 2
April 14, 2012 at 9:41 am
I cant see the videos
April 13, 2012 at 6:58 am
I cannot see the video
April 3, 2012 at 5:58 am
i cannot see the video
April 3, 2012 at 9:02 am
@skabuleta, Please visit the support page: http://opentuition.com/support/
March 18, 2013 at 10:17 pm
pls help, i can’t access the video. i keep getting an error msg too…something about “404 not found”
March 18, 2013 at 10:33 pm
What are you using to access the lectures???
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