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AS-2 scope

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Atharv Sankliya

1359 Points Posted on 18 March 2023

if a company is engaged in trading of live stock or biological assets so does it is included in the scope of AS-2

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Quick Summary

This discussion clarifies the scope of AS-2 concerning the trading of livestock and other biological assets. It addresses whether such items are considered inventories under AS-2, particularly for producers. The consensus is that AS-2 applies to producers' inventories like livestock, but not to traders of these products.