The debt to equity ratio indicates the relative proportion of shareholders' equity and debt used to finance a company's assets, reflecting its financial leverage.

An inventory write-down reduces the value of inventory on the balance sheet and results in a loss, which decreases net income.

Accumulated depreciation is a contra asset account that reduces the book value of fixed assets on the balance sheet, thus decreasing total assets.

IAS 2 deals specifically with the accounting treatment for inventories, including their valuation and cost flow assumptions.

A trial balance is prepared to ensure that the total debits equal the total credits in the ledger accounts, confirming the accuracy of the bookkeeping.

The primary purpose of preparing final accounts is to assess the financial performance of the business over a specific period.

IFRS 9 addresses the measurement and classification of financial instruments, replacing IAS 39.

IFRS 15 provides a comprehensive framework for recognizing revenue from contracts with customers, outlining when and how revenue should be recognized.

FIFO (First In, First Out) assumes that the oldest inventory items are sold first, which can affect the cost of goods sold and ending inventory values.

The current ratio is calculated using current assets (like cash, accounts receivable, and inventory) divided by current liabilities, so long-term debt is not included.

The current ratio is a liquidity ratio that measures a company's ability to pay short-term obligations with its current assets.