Maurice Tutor

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    Argosy University/ Phoniex University/
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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 11 Oct 2017 My Price 3.00

GAAP and IFRS

All of the following are key differences between GAAP and IFRS with respect to accounting for inventories except the:

(a) Definition of the lower-of-cost-or-market test for inventory valuation differs between GAAP and IFRS. (b) average-cost method is prohibited under IFRS.

(c) Inventory basis determination for write-downs differs between GAAP and IFRS.

(d) Guidelines are more principles-based under IFRS than they are under GAAP.

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Maurice Tutor
(5)
Status NEW Posted 11 Oct 2017 01:10 PM My Price 3.00

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