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.

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