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IPSASB Inventory Standards Overview

Agustina Llambí, Senior Manager at IPSASB, covers the definition, measurement, costs, recognition of expenses, and disclosures related to inventories. The definition includes materials for production or services, items for sale, and work in progress, with examples like military supplies and finished products. Measurement involves the lower of cost or net realizable value, with consistent cost formulas. Expenses are recognized upon sale or distribution, with disclosure requirements for accounting policies and inventory details.

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IPSASB Inventory Standards Overview

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