July 3, 2011
Convergence of FASB and IASB for IFRS regarding LIFO Method for Accounting and Taxation
Please advise what is the current status of the above agenda topic. It has been many months since this topic has had any publicity that I can find on the agenda of the meetings to discuss being negotiated between the IASB and FASB. Could you please advise me if LIFO termination remains as a topic to be resolved in 2011, or, if not, when is it expected? Do you have an sources to identify for me to further research on LIFO convergence status? Thank you. Joseph D. Ament 7-3-11