Due to global oversupply in the micro-chip industr
Due to global oversupply in the micro-chip industry a company wrote down its 2012 inventory by €4.0 million from €12.0 million. The following year, due to a change in competitive forces in the industry the market price of these chips rose sharply to 10% above their original 2012 value. If the company prepares its financial statements in accordance with International Financial Reporting Standards (IFRS), its 2013 inventory (in €-millions) will most likely be reported as:
A. 8.0.
B. 12.0.
C. 13.2.
参考解答
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2024-11-01 14:32:50
Ans:B.
Although IFRS does require write-downs, it also allows revaluations, but not to exceed the original value, i.e., 12. The exception to this, where gains are allowed, is in producers of agricultural, forest and resource products.
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