(Answered) Assignmentclient x operates in the us currently and is

Accounting

Assignment

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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