Inventory

Definition overview

1 Definition

Assets that are either held for sale in the ordinary course of business, in the process of production for such sale or in the form of materials or supplies consumed in the production process or in the rendering of services.

2 References

Australian Accounting Standard - AASB 102 Inventories

3 Definition Information

Approved Date

26/3/2015

Effective Date

26/3/2015

Record No

15/756PL

Complying with the law and observing Policy and Procedure is a condition of working and/or studying at the University.

* This file is available in Portable Document Format (PDF) which requires the use of Adobe Acrobat Reader. A free copy of Acrobat Reader may be obtained from Adobe. Users who are unable to access information in PDF should email policy@usq.edu.au to obtain this information in an alternative format.