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Oliga [24]
3 years ago
8

A major difference between the IFRS and US GAAP is: US GAAP is principle-based and IFRS is rule-based US GAAP allows capitalizat

ion of successful development for all industries GAAP is more cash flow oriented US GAAP allows LIFO
Business
1 answer:
dimaraw [331]3 years ago
3 0

Answer:

US GAAP allows LIFO

Explanation:

The last in, first out (LIFO) inventory valuation system uses the price of the last units purchased in order to determine the cost of goods sold. The International Financial Reporting Standards (IFRS) require that companies use the first in, first out (FIFO) inventory valuation system or the weighted average system. While US GAAP accepts LIFO, FIFO or weighted average.

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According to a recent study, the AIS strategic role that has the greatest impact on shareholder value is Transform.

The AIS strategic roles known as Accounting information System strategic roles has a great impact on shareholders because it's strategic roles bring about transform and also has impact on business because it brings Reformation of processes in business. It should be noted that AIS also brings about automation.

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4 years ago
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4 years ago
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3 years ago
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Tpy6a [65]

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