Ind AS Tit-bits #4- Recognition of expense and Disclosures

1. Any reduction in the value of the inventories from it's cost to NRV shall be written-off as an expense.
2. Any such expense shall be net-off with the reversal of earlier write-off to NRV, if any happened in the earlier periods.

Eg:

NRV of the Inventory A has reduced from Rs. 10 to Rs. 8. Cost of Inventory A is 10

NRV of the Inventory B has increased from Rs. 6 to Rs.7. Cost of Inventory B is Rs. 7

Total amount of expenditure recognised during the year shall be Rs. 1/-

3. Where any inventory has been included as part of cost of the an asset, such inventory shall be recognised as expense, as a part of depreciation charged on the asset.

Disclosures