Many companies recognize inventories in their financial statements. Inventory is a portion of their business assets that will be (or already are) ready for sale as part of normal operations. In this module, you will learn about: What is included in inventory cost, including how to calculate total cost The measurement principles applied to inventory The initial and subsequent recognition principles applied to inventory Disclosure requirements of IAS 2 Take our self-study eLearning course here: https://revolution.gaapdynamics.com/learn/course/internal/view/elearning/278/inventories-overview-of-ias-2 Learn more about GAAP Dynamics: https://www.gaapdynamics.com/ Check out our other online courses on the Revolution: https://revolution.gaapdynamics.com/learn/catalog Subscribe to GAAP Dynamics to see more videos like this!
Most Popular Posts Today
![Should I work at Public or Private Company? #accounting [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2025/03/mp_27478_0_0jpg.jpg)
Should I work at Public or Private Company? Enroll in the Controller Academy: https://controller-academy.com/courses/controller-academy
![P&L Presentation Type based on your Audience (Natural Account vs. Functional) [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2025/03/mp_27449_0_0jpg.jpg)
Before compiling the P&L, you need to decide on the type of presentation (based on your audience): Natural Account, Functional or Hybrid. Free P&L Template shown in video: https://thefincontroller.com/p/types-of-incomestatemet-presentation Enroll in the FP&A Academy: https://controller-academy.com/courses/fpa-academy Time Stamps: 00:00 Intro 01:28 Company Profile 02:17 1. Natural Account P&L 04:26 2. Functional P&L 05:38 3. Hybrid P&L 09:08 How To Setup in NetSuite 10:29 How To Setup in QuickBooks Online ----------------------------------- Hang Out with me on social media: 📸 https://www.instagram.com/the_financial_controller/ 📱https://www.tiktok.com/@thefinancialcontroller https://www.linkedin.com/in/bill-hanna-cpa-7653a851/ DISCLAIMER: Links included in this description might be affiliate links. If you happen to purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel so I can continue to provide you with free content each week! All views expressed on my channel are mine alone. Not intended as financial or professional advice
Most Popular This Week
![Difference between an auditor specialist and a company or management specialist [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2025/03/mp_27455_0_0jpg.jpg)
Rachel is looking to "close the GAAP" on the difference between an auditor specialist and a company or management specialist. Check out her quick video explanation here! If you are interested in learning more, explore our eLearning course on Using the Work of Specialists: https://www.gaapdynamics.com/product/using-the-work-of-specialists/
![Entrepreneurship Mistakes from Hell | How to Start a Startup [Video]](https://video.ednadigitalmarketing.com/wp-content/uploads/2025/03/mp_27442_0_0jpg.jpg)
Embarking on the journey of entrepreneurship is akin to riding a roller coaster blindfolded—it's exhilarating, unpredictable, and fraught with potential pitfalls. While mistakes are an inevitable part of the entrepreneurial journey, some are more catastrophic than others. These "mistakes from hell" can derail even the most promising ventures, leaving entrepreneurs reeling and searching for ways to recover. Let's explore some of these missteps that have the potential to turn an entrepreneurial dream into a nightmare.