Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. gaap vs. ifrs which methodology do you think is be

GAAP vs. IFRS Which methodology do you think is better, could you suggest a middle...

50.1K

Verified Solution

Question

Accounting

image

GAAP vs. IFRS

Which methodology do you think is better, could you suggest a middle ground?

Thanks

INVENTORY GAAP prefers LIFO method for IFRS does not recommend LIFO (as METHOD valuation of inventory it reveals lower income)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

develop a sample of Scope of Work for constructing a steel-structure chalet

Civil Engineering
Q

Nucleotide triphosphate (dNTPs) are added to the growing DNA strand during the _______ phase ...

Biology
Q

The average kinetic energy of a monoatomic gas molecule kept at temperature 27 C is...

Physics
Q

A hedge fund analyst is looking to establish which publicly traded companies react similarly to...

Basic Math
Q

verity the following identity 2 tan 0 1 1 tan 0 2 Which of the...

Basic Math
Q

Evaluate the definite integral 2e 0 4 p2x dx

Calculus
Q

The t-test is used with A) nominal data B) ordinal data C) ratio data D)...

Accounting
Q

?^^^^^^^^^^^ Ifthehomeowner'spolicycovers70%ofthereplacementcostandtheactualcashvalueofthelossis$25,000,whatwouldbetheamountofrecoveryiftherepaircostsamountto$35,000? Actualcashvalue:$25,000 Repaircosts:$35,000 Coveragepercentage:70% ...

Accounting
Q

Problem 5 Angel Landscaping Services started the year 2014 with an Accounts Receivable balance of...

Accounting
Q

On August 1, 2009, a magazine publisher receives $24 cash for a year s subscription...

Accounting
Q

All tl flal Nirna na la TWIRTH | |

Accounting
Q

what are the basic financial statements in quickbooks online?

Accounting