It's Time to Get Rid of LIFO Conformity - Both LIFO and the conformity rule are seriously flawed. LIFO doesn't give a complete description of operating results, and the conformity rule forces managers to shortchange stockholders in either the financial statements or the tax return instead of serving them well in both. It's time to get Congress and the profession to focus on other methods.
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|Authors:||Bahnson, Paul R. ; Miller, Paul B.W.|
Strategic finance : leadership strategies in accountants and financial professionals. - Montvale, NJ : Institute of Management Accountants, ISSN 0025-1690, ZDB-ID 14706659. - Vol. 85.2004, 12, p. 43-47
FOUR STEPS TO USEFUL PRESENT VALUES - Present value measurement techniques generally are misunderstood by CPAs and suffer some material defects. The FASB should attempt to remedy the problems and avoid creating new ones.
Miller, Paul B.W., (1996)
Bahnson, Paul R., (1996)
FINANCIAL REPORTING - BUSINESS VALUATION - Refining Fair Value Measurement - FASB Statement no. 157 specifies new factors to consider when measuring fair values that are already required in GAAP. The authors explain some of the changes caused by the new standard and the uniformity and consistency it brings to fair value measurements.
Miller, Paul B.W., (2007)
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