Calculate Cost of Goods Sold: FIFO Method Explained

Discover how the FIFO method simplifies COGS calculations, using examples and comparisons to enhance your financial ...
JournalofAccountancy

The Death of LIFO?

Few differences between IFRS and U.S. GAAP loom larger than accounting for inventories, particularly the disallowance of the last-in, first-out (LIFO) method in IFRS. The proposed shift of U.S. public ...

HIFO Accounting Explained: Differences With LIFO and FIFO

Discover how HIFO inventory accounting contrasts with LIFO and FIFO methods, and why it impacts COGS and taxable income, ...
The Nation Newspaper

Tax implications of ifrs’ adoption (1)

On July 28, 2010, the Federal Executive Council accepted the recommendation of the Committee on the Roadmap to the Adoption of International Financial Reporting Standards (IFRS) in Nigeria, that it ...