Differences in IFRS and GAAP With Inventory

One of many main differences with GAAP and IFRS with reference with inventory is the proven truth that IFRS does now not allow the exercise of LIFO. GAAP enables the exercise of FIFO, LIFO, and weighted common. While IFRS only enables the exercise of FIFO and weighted common. These strategies produce rep earnings, that will […]



One of many main differences with GAAP and IFRS with reference with inventory is the proven truth that IFRS does now not allow the exercise of LIFO. GAAP enables the exercise of FIFO, LIFO, and weighted common. While IFRS only enables the exercise of FIFO and weighted common. These strategies produce rep earnings, that will maybe also lengthen or decrease the taxes a firm might want to pay.

2020pro-20
US