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4. Conversion costs are costs incurred in the conversion of raw materials into finished products ready for sale. REQUIRED: Please discuss which costs can be

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4. Conversion costs are costs incurred in the conversion of raw materials into finished products ready for sale. REQUIRED: Please discuss which costs can be included in the conversion of raw materials into finished products ready for sale as per the requirements of IAS 2 ? 5. A score that is used to determine what financial reporting framework should be used is referred to as the Public Interest Score (PIS). REQUIRED: Please discuss how the Public Interest Score (PIS) should be calculated to determine the financial reporting framework to be used? (4)

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