Merchants and manufacturers rely on the sale of inventory to create gross profits. Whether you purchase your inventory or make it yourself, you need to observe the relevant accounting standards to ...

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 ...

Over the years, companies have relied on alternative performance measures (APMs) such as “adjusted earnings” or “underlying profit” to provide investors additional financial information beyond IFRS or ...

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 ...