2023 Client X operates in the US currently and is planning to expand operations globally next year As | Assignments Online

2023 Client X operates in the US currently and is planning to expand operations globally next year As | Assignments Online

Assignments Online 2023 Business Finance

 

Client X operates in the US currently and  is planning to expand operations globally next year. As a result,  management is considering preparing financial statements in accordance  with IFRS rather than with US GAAP.

Client X contacted you for clarification and recommendations regarding the following issues:

  • How the use of the LIFO method to value its inventories will be  impacted if a switch to financial statements prepared in compliance with  IFRS will be made.
  • Whether interest cost on construction of a new warehouse may be included in the cost of the new warehouse.
  • In what instances should goodwill be adjusted for impairment?

Discuss the above with your team and come to a consensus.

Write a 350- to 525-word  paper. Provide a brief overview of each issue, followed by solid  responses supported by research and proper citing.

Format your paper consistent with APA guidelines.

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