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IAS 2 AND IAS 16

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IAS 2 AND IAS 16

Viewing 2 posts - 1 through 2 (of 2 total)
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  • December 12, 2018 at 9:24 am #491837
    oblatty
    Participant
    • Topics: 2
    • Replies: 2
    • ☆

    Am auditing a gas company and am confused about how the client should recognize the cylinder that is used for the gas ,is it recognize as PPE under IAS 16 or INVENTORY under IAS 2

    December 17, 2018 at 6:21 pm #492134
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7060
    • ☆☆☆☆☆

    Hi,

    I’d speak to your technical department about it. It would all depend on whether the gas is sold alongside the cylinder or if the cylinder is just used for storage purposes.

    Thanks

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