Overview
This module covers inventory valuation and non-current asset accounting, including periodic vs perpetual inventory systems, depreciation methods, and the distinction between repairs and improvements. Topics include FIFO weighted average, componentisation, and revaluation model.
1. Inventory systems and valuation
- Periodic vs perpetual inventory systems
- FIFO and weighted average methods
- Inventory counts, write-downs, and adjustments
2. Property, plant, and equipment
- Cost components and capitalisation policy
- Depreciation methods and changes
- Disposals, part-exchanges, and gains/losses