问题如下:
Company A adheres to US GAAP and Company B adheres to IFRS. Which of the following is most likely to be disclosed on the financial statements of both companies?
选项:
A.Any material income resulting from the liquidation of LIFO inventory
B.The amount of inventories recognized as an expense during the period
C.The circumstances that led to the reversal of a write down of inventories
解释:
B is correct.
Both US GAAP and IFRS require disclosure of the amount of inventories recognized as an expense during the period. Only US GAAP allows the LIFO method and requires disclosure of any material amount of income resulting from the liquidation of LIFO inventory. US GAAP does not permit the reversal of prior-year inventory write downs.
能否请老师解释一下这道题,题面都没看懂