Download PDFOpen PDF in browserCurrent versionResponsibility Centres Under IAS 2/ IFRSEasyChair Preprint no. 1252, version 110 pages•Date: June 30, 2019AbstractThe 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: cost accounting, Internal Reporting, Inventories IAS2, Responsibility centres
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