FIFO/LIFO GAAP Standard? - Printable Version +- Accountancy Forum (https://www.accountancy.com.pk/forum) +-- Forum: The Profession (https://www.accountancy.com.pk/forum/forumdisplay.php?fid=4) +--- Forum: Accounting and Audit (https://www.accountancy.com.pk/forum/forumdisplay.php?fid=7) +--- Thread: FIFO/LIFO GAAP Standard? (/showthread.php?tid=5715) |
FIFO/LIFO GAAP Standard? - axel15810 - 04-18-2009 Is there an accounting standard that specifically deals with LIFO/FIFO? Just wondering. It's such a basic accounting concept that I can't even find an accounting standard that lays out the accounting for each method. - wasim akram - 04-18-2009 Read IAS 2 CAREFULLY SPECIALLY Benchmark treatment and Allowed alternative treatment. If you are related to accounting profession then please study and try to understand first before qouting. |