文章基本信息

标题：IFRS And US GAAP Convergence Progressing: As Taxpayers Voluntarily Stop Using LIFO
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作者：Dahli Gray
期刊名称：International Business & Economics Research Journal
印刷版ISSN：1535-0754
电子版ISSN：2157-9393
出版年度：2013
卷号：12
期号：4
页码：451-456
语种：English
出版社：The Clute Institute for Academic Research
摘要：This paper presents the potential benefits of the last in, first out (LIFO) inventory valuation method being eliminated as a requirement in financial statements prepared under United States Generally Accepted Accounting Principles when also used for United Stated federal income tax reporting. Research results show that corporations have been voluntarily switching from LIFO to another method since inflation declined well below double digits. Of the corporations still using LIFO, the potential billions of federal tax revenue is presented that might help keep the United States federal budget from going over the fiscal cliff.
关键词：Inventory;Taxation;GAAP;IFRS;LIFO;Convergence