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Impairment of inventory

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Impairment of inventory

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  • October 15, 2022 at 3:57 am #668662
    phuongmore
    Participant
    • Topics: 132
    • Replies: 128
    • ☆☆☆

    Dear Sir,

    IAS36 applies to impairment of all assets other than inventories. I do not understand why the Q1 of Dec18 refer to the concept of impairment loss of inventory?

    Thanks

    October 15, 2022 at 4:10 am #668663
    Stephen Widberg
    Keymaster
    • Topics: 15
    • Replies: 3396
    • ☆☆☆☆☆

    If inventory is written down to NRV, you could use the verb ‘impair’ if you want to. It doesn’t mean IAS 36. 🙂

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