AASB 102 Inventories requires separate disclosure of:
A) the amount of inventories recognised as an expense.
B) the carrying amount of inventories pledged as security for loans.
C) the circumstances that led to a reversal of a previous write down of inventories.
D) All of these options.

Question

Quizplus · Accepted Answer

AASB 102 requires all of these disclosures to be made. Disclosure of the amount of inventories recognised as an expense is important for users to understand the impact of inventory costs on the entity's financial performance. Disclosure of the carrying amount of inventories pledged as security for loans is important for users to understand the entity's level of financing using inventory as collateral. Disclosure of the circumstances leading to a reversal of a previous write down of inventories is important for users to understand changes in the valuation of inventory and the impact on financial performance.

AASB 102 Inventories Requires Separate Disclosure Of