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ACC 572 Week 3 Discussion

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Strayer ACC 572 Week 3 Discussion “LIFO Inventories” Please respond to the following: • From the first e-Activity, identify and evaluate the potential financial consequences under IFRS for U.S. companies valuing inventory using LIFO for financial and tax reporting purposes. • From the second e-Activity, analyze and discuss the impact of IFRS 13, Fair Value Measurement, on the revaluation of property, plant, and equipment. Week 3 eActivities • Go to QFinance Website to read the article titled “The LIFO Conundrum: Convergence of US GAAP with IFRS and Its Implications on US Company Competitiveness” by William C. White IV, located at http://www.qfinance.com/accountancy-best-practice/the-lifo-conundrum-convergence-of-us-gaap-with -ifrs-and-its-implications-on-us-company-competitiveness ?page=1 Be prepared to discuss. • Use the Internet or the Strayer library to research a recent article (within 12 months) about fair value accounting. Be prepared to discuss

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