文章基本信息

标题：The Positive Outlook Of The Last In First Out Inventory Methods
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作者：Peter Harris ; Anthony Harris
期刊名称：Journal of Business & Economics Research
印刷版ISSN：1542-4448
电子版ISSN：2157-8893
出版年度：2016
卷号：15
期号：1
页码：1-4
语种：English
出版社：The Clute Institute for Academic Research
摘要：Until very recently, the Last In First Out method (LIFO) was under severe scrutiny from the financial community, and its repeal as an acceptable accounting method seemed imminent. There were pressures from the Securities and Exchange Commission and the International Financial Accounting Standards Board to standardize accounting standards worldwide. In addition, there were political pressures imposed by US Congress to raise additional revenues. Both groups strongly oppose LIFO. However, an SEC Report issued in July 2012 has greatly renewed the lifeline of LIFO indefinitely. In the unlikely case of its ultimate repeal, the author presents some tax opportunities available in this transition period.
关键词：LIFO;IFRS;US GAAP;SEC July 2012 Report