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On this edition, Leslie Schneider of Ivins, Phillips & Barker, Chartered, discusses the status of last-in-first-out (LIFO) tax accounting and international financial accounting standards (IFRS). Mr. Schneider also analyzes the treatment of sales-based royalties for inventory costing purposes and the potential effect of proposed regulations. He also looks at recent developments related to the treatment of inventories in mergers and acquisitions. Copyright© 2012 LexisNexis, a division of Reed Elsevier Inc. Visit www.lexisnexis.com/community/taxlaw.
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RELATED LINKS: For additonal insight into trends impacting LIFO accounting, the federal tax treatment of materials and supplies, and recent developments in the treatment of inventories in mergers and acquisitions, see:
1-1 Federal Income Taxation of Inventories 1.03 - Materials and Supplies
1-9 Federal Income Taxation of Inventories 9.00 - LIFO History and Background
1-17 Federal Income Taxation of Inventories 17.01 - Transfer of Inventories
Federal Income Taxation of Inventories, authored by Leslie Schneider, is also availalbe in print at the LexisNexis® Store.
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