Inventory
ASPE: 3031
Inventory: ASPE 3031
ASPE 3031 and IAS 2 are converged with the exception of differences below. Refer to our IAS 2 notes.
Comparison to IFRS
Comparison to IFRS
- IAS 2 Inventories is generally converged with ASPE 3031
- One difference is with borrowing costs – under ASPE can choose to capitalize borrowing costs relating to inventory that takes substantial time to get it ready for sale; whereas under IFRS borrowing costs for qualifying assets are capitalized.