Image transcription text For each of two topics, being a) inventories (including Cost of Goods Sold (COGS)) and b) Property,
Plant and Equipment (PPE) (including depreciation), explain three things: 1. How each would be accounted for using the ideas inherent in a 'traditional' (i.e., pre-IASB CF) approach.
2. How each would be accounted for ifthe main ideas ofthe IASB CF were used. In the above two points, you should explain the concepts underlying the accounting
described, identifying those that would have the greatest impact on the accounting and
those that would have little impact.
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