Client X contacted you for clarification and recommendations on how the use of the LIFO method to value its inventories will be impacted if a switch to financial statements prepared in compliance with IFRS will be made.

Rubric

Demonstrated ability to research IFRS

Discuss LIFO

Discuss why LIFO is not acceptable

Recommendations

Other Weaknesses

The content is comprehensive, accurate, and/or persuasive.

The paper develops a central theme or idea, directed toward the appropriate audience.

Major points are stated clearly; are supported by specific details, examples, or analysis; and are organized logically.

Paper discusses the key elements of the assignment

The introduction provides sufficient background on the topic and previews major points.

The conclusion is logical, flows from the body of the paper, and reviews the major points