inventory write down where, write

meghanjackson

under IFRS: loss goes to I/S
under U.S. GAAP: where does the write down go?

onelife1

Dreary,

1) yes it does
2) in the case of fixed assets, remember that is asset initially goes up, then goes as reval on oci, if it goes down after then reverse oci balance up to amount of writedown the goes through i/s

- Guille

luda002

Cool. Thanks

ppls

Just studied this - you're correct

brainsX

What about for inventory write ups?

IFRS: Allows it I believe
GAAP: Not allowed. Any gain from the sale of written down inventory is just realized when sold correct?

flyinggirl

I/S