Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Business
Going Concern: Where Is It Going?, Clemense Ehoff Jr., Dahli Gray
Going Concern: Where Is It Going?, Clemense Ehoff Jr., Dahli Gray
All Faculty Scholarship for the College of Business
On June 26, 2013, the Financial Accounting Standards Board (FASB) issued an exposure draft concerning disclosure of uncertainties surrounding the going concern presumption. This exposure draft is the FASB’s most recent attempt to bring closure to a project that began in 2007. This paper examines the going concern presumption and the FASB’s treatment of the going concern from 2007 to the present.
Lower Of Cost Or Market Inventory Valuation: Ifrs Versus Us Gaap, Dahli Gray, Clemense Ehoff Jr.
Lower Of Cost Or Market Inventory Valuation: Ifrs Versus Us Gaap, Dahli Gray, Clemense Ehoff Jr.
All Faculty Scholarship for the College of Business
The lower of cost versus market (LCM) controversy regarding inventory cost measurement is presented. The differences between International Financial Reporting Standards (IFRS) and United States (US) Generally Accepted Accounting Principles (GAAP) are analytically compared. The link between US federal tax law and US GAAP is emphasized relative to a discussion of deferred taxes and potential US federal income tax revenue.