The Enactment and Critique of International Accounting Standard Two

Ayogeboh Epizitone and Samantha Cecilia Nxumalo

Academic Journal of Interdisciplinary Studies, 2021, vol. 10

Abstract: Harmonising the International Accounting Standards/International Financial Reporting Standards (IAS/IFRS) globally has been the objective of national boards that seek to eliminate existing differences. The harmonisation project has been substantially efficient in realising the IFRS in emerging economies. However, concerning the international accounting standard two, the existence of different inventory valuation methods in literature is one of the dilemmas confronting the application of IAS 2 in many nations globally. This study through a comprehensive literature review discusses and present a critique on the international accounting standard two to afford insight that will be beneficial to both scholar and standard setters. The findings reveal a formidable contribution of the current asset inventory on companies and compliance levels in South Africa. Furthermore, these findings supplement prevailing body knowledge on IAS two and the value relevance of accounting inventories. Highlighting key critiques on the IAS 2 prescriptions and application internationally and also revealing the standards own crucial flaws and strengths and on companies.

Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.richtmann.org/journal/index.php/ajis/article/view/12679 (text/html)
https://www.richtmann.org/journal/index.php/ajis/article/view/12679/12279 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bjz:ajisjr:2149

DOI: 10.36941/ajis-2021-0161

Access Statistics for this article

More articles in Academic Journal of Interdisciplinary Studies from Richtmann Publishing Ltd
Bibliographic data for series maintained by Richtmann Publishing Ltd ().