ACCA SBR ^UK Syllabus C. Reporting The Financial Performance Of A Range Of Entities - Inventories - Notes ^{5 / 24}

Differences between FRS 102 Section 10 and IAS 2 Inventories are:

IAS 2	FRS 102 Section 10
No guidance on what should be included in production overheads.	Additional guidance on what should be included in production overheads.
No guidance on reversal of impairment losses.	Impairment losses on inventory can be reversed if the circumstances which led to the impairment no longer exist, or if economic circumstances change.
No specific requirements regarding inventories held for distribution at no or nominal consideration or through a non-exchange transaction.	Inventories held for distribution at no or nominal consideration, or through a non-exchange transaction, must be measured at adjusted cost.