Question
Question- Inventory accounting, specifically LIFO, is one of the rare areas where US GAAP does not match International Financial Reporting Standards. Please post your opinion
Question- Inventory accounting, specifically LIFO, is one of the rare areas where US GAAP does not match International Financial Reporting Standards. Please post your opinion below on:
1. whether you think LIFO faithfully represents inventory cost.
2. Is the estimate of market value highly subjective? Why do accounting rules require management to estimate market value?
3. Is LIFO just a tax benefit for large corporations? Is that a bad thing?
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Easy Paycheck Budget Planne Mastering Money Management And Achieving Financial Results
Authors: Roy Darling
1st Edition
B0CM126V4M
