How do the provisions of IAS 2 differ from the lower-of-cost-or-market rule contained in U.S. GAAP?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 42% (14 reviews)
Under IAS 2 the rule governing inventory ...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
Question Posted:
Students also viewed these Managerial Accounting questions
-
The screw eye is subjected to the two forces shown. Express each force in Cartesian vector form and then determine the resultant force. Find the magnitude and coordinate direction angles of the...
-
Lower of Cost or Market Frost Companys inventory records for the years 2016 and 2017 reveal the cost and market of the January 1, 2016, inventory to be $125,000. On December 31, 2016, the cast of...
-
How does application of the lower of cost or market rule for inventories differ between IFRS and U.S. GAAP?
-
Smart Price Company, a producer of black forest cakes, has budgeted sales and production (in units) for the last quarter in 2019 to be as follows: Sales Production October November 26,000 28,000...
-
Consider a 3-sigma control chart with a center line at 0 and based on n = 5. Assuming normality, calculate the probability that a single point will fall outside the control limits when the actual...
-
Define Virtual Memory and elucidate its significance in modern computing architectures. How does it facilitate efficient memory management and address the limitations of physical memory?
-
A thin wire, lying along the x axis, is strained such that each point on the wire is displaced x = kx 2 along the x axis. If k is constant, what is the normal strain at any point P along the wire? x...
-
Complete the profit margin, asset turnover, and return on investment calculations for investment centers D and V. (Round to two decimalplaces.) Center D $1,600 $400 $3,200 Center V $2,000 $200 $1,250...
-
The plaintiff, WandaRer, is aCanadian and a self-described artist, photographer, and social media influencer. For almost a decade, Ms. Rer has traveled the world with her camera. Ms. Rer has her...
-
County Beverage Drive-Thru, Inc., operates a chain of beverage supply stores in Northern Illinois. Each store has a single service lane; cars enter at one end of the store and exit at the other end....
-
What factors are important in deciding whether a pending lawsuit should be reported as a liability on the balance sheet?
-
What information is needed to develop a reliable gross profit percentage for use with the gross profit method?
-
What is the output from the following? >>> a = -4 >>> b = 2 >>> c = abs(a) >>> x = a * c >>> print x
-
The pretax financial income (or loss) figures for Synergetics Company are as follows. Pretax financial income (or loss) and taxable income (loss) were the same for all years involved. Assume a 45%...
-
Sport Pro Magazine sold 12,000 annual subscriptions on August 1, 2015, for 18 each. Prepare Sport Pros August 1, 2015, journal entry and the December 31, 2015, annual adjusting entry.
-
Lanier Corporation has pretax financial income (or loss) equal to taxable income (or loss) from 2007 through 2015 as follows. Pretax financial income (loss) and taxable income (loss) were the same...
-
Manual Company sells goods to Nolan Company during 2015. It offers Nolan the following rebates based on total sales to Nolan. If total sales to Nolan are 10,000 units, it will grant a rebate of 2%....
-
Kasten Inc. provides paid vacations to its employees. At December 31, 2015, 30 employees have each earned 2 weeks of vacation time. The employees average salary is 700 per week. Prepare Kastens...
-
Describe activity crashing and solve typical problems.
-
Find the intercepts and then graph the line. (a) 2x - 3y = 6 (b) 10 - 5x = 2y
-
What volume of oxygen gas, in liters, at 30 C and 0.993 atm reacts with excess hydrogen to produce 4.22 g water?
-
How are current liabilities related by definition to current assets? How are current liabilities related to a companys operating cycle?
-
How are current liabilities related by definition to current assets? How are current liabilities related to a companys operating cycle?
-
How are current liabilities related by definition to current assets? How are current liabilities related to a companys operating cycle?
-
Discuss the dynamic organization of the cytoskeleton and its pivotal role in cellular motility, intracellular transport, and structural integrity .
-
Would you support the idea of a government issued Digital currency? Why ? and why not?
-
To protect her savings against further inflation and to help her prepare for a healthy financial future, Hanna Lind deposits $9,100 in an investment account earning 6% interest compounded quarterly....
Study smarter with the SolutionInn App