Inventory in IFRS 3 Business Combinations
Posted: 19 Sep 2019, 17:28
Hi all,
I am currently working on a PPA for an entity we recently acquired. Apparently, according to our audit partner, there is a provision within the standards that allows raw material inventory to not be adjusted up to FV due to the fact that it would skew margins for profit and loss reporting. I didn't get much more detail than what I described above. Is anyone familiar with this exception and could you please point me in the right direction?
Thanks,
I am currently working on a PPA for an entity we recently acquired. Apparently, according to our audit partner, there is a provision within the standards that allows raw material inventory to not be adjusted up to FV due to the fact that it would skew margins for profit and loss reporting. I didn't get much more detail than what I described above. Is anyone familiar with this exception and could you please point me in the right direction?
Thanks,