A company engaged in buying and selling equity securities should consider this asset as inventory and should be accounted for in accordance with AASB 102.

Question

Quizplus · Accepted Answer

Equity securities bought and sold by a company are considered financial instruments, not inventory, and should be accounted for in accordance with AASB 9 Financial Instruments, not AASB 102 Inventories.

A Company Engaged in Buying and Selling Equity Securities Should