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Mosul Technical Institute organizes a workshop entitled “The Impact of Implementation of Financial Reporting Standards (IAS2)

Under the patronage of Prof. Dr. Alia Abbas Ali Al-Attar, President of the Northern Technical University, and under the supervision of Assistant Professor Shahla Abdel-Wahab Abdel-Qader, Dean of the Mosul Technical Institute, the Materials Management Techniques Department organized a workshop entitled  “The impact of the extent of application of financial reporting standards (IAS2) on the unified accounting system” delivered by the assistant teacher Mustafa Saher Raouf Suleiman.

The workshop identified:

  1. Definition of inventory according to the accounting standard.
  2. Methods of measuring inventory according to the accounting standard.
  3. Accounting treatments according to the accounting standard.
  4. Acknowledgment that it was spent in accordance with the accounting standard.

The workshop came out with several recommendations:

  1. The necessity of classifying the Inventory Accounting Standard (IAS2(.
  2. Develop and update the unified accounting system in accordance with the accounting standard and financial reporting standards.
  3. Willingness to apply financial reporting standards through the development of human resources in the field of accounting standards.

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