In adjusting financial statements for comparabilit
In adjusting financial statements for comparability under IFRS and U.S.GAAP, an analyst would be most likely to:
A. Add goodwill to stockholders’ equity.
B. Eliminate all intangible assets from the balance sheet.
C. Adjust the IFRS statements from LIFO inventory costing to FIFO method.
参考解答
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2024-11-11 15:14:08
Ans:B.
Removing all intangible assets, including goodwill, from the balance sheet leaves tangible book value. Tangible book value would be easiest to compare across different accounting frameworks.
A is incorrect. There is no rational basis to ass goodwill, an asset account, to stockholders’ equity.
C is incorrect. IFRS statements prohibit LIFO costing. Therefore, it would not be possible to recast an IFRS-basis statement from LIFO method.
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