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Hi Chris,
First off, thanks for the fantastic lectures.
My question is – are there any considerable differences between the definition of selling costs or costs to sell in IAS 2, IAS 36, IAS 41, IFRS 5 and possibly some other standards?
Cheers.
Hi,
Thanks for the kind comment and apologies for the unusually slow reply.
No, there are no major difference and they are all effectively the costs that you would incur to get the asset in a salable condition (inventory) or the costs that you would likely have to incur if you did sell the asset (IP, impairments and NCA-HFS).
Thanks and good luck with the revision.
Chris
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