Responsibility Centres Under IAS 2/ IFRS

EasyChair Preprint 1252, version 2

Abstract

The worldwide implementation of IFRS to a larger extend impacts financial statements more and more. On one side, the internal reporting struggles to provide accurate and insightful information for decision-making process and liquidity management. On the other side, the legal requirements of accounting standards influence not only the external reporting but also the internal one.

In this paper, we discuss the impact of international financial reporting standard for inventory (IAS2) on the cost accounting system. In this line of thought, we conclude that the direct costing is wildly worldwide used for internal reporting, although it doesn’t comply with IAS2.

Keyphrases: Internal Reporting, Inventories IAS2, Responsibility centres, cost accounting

@booklet{EasyChair:1252,
  author    = {Magdalena Alina Ilcus},
  title     = {Responsibility Centres Under IAS 2/ IFRS},
  howpublished = {EasyChair Preprint 1252},
  year      = {EasyChair, 2020}}