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Inventories After a Hurricane: Damage, NRV & Insurance (IAS 2, IFRS 15, IAS 10)
November 5, 2025by Dr Dawkins Brown
Accounting for damaged, contaminated, or obsolete inventories after a natural disaster under IAS 2 Inventories, with links to IFRS 15 (contract assets/returns), IAS 10 (events after the reporting period), IAS 36 (impairment cues for production assets), IAS 37 (provisions), IFRS 9 (ECL on trade receivables), IAS 1 (presentation/disclosure)—and how insurance interacts without netting. Storms hit...
