A company’s long-term liabilities, such as bonds payable and finance leases, arise from its future cash flow obligations. These liabilities are often initially recognized on the date that the contracts are signed or the cash flows are committed. Under certain circumstances, however, companies may need to adjust the start dates in response to the nature […] The post Accounting for Liabilities Arising Between Cash Flow Dates appeared first on The CPA Journal.| The CPA Journal
In Brief The recent surge in inflation has led managers to reassess the best inventory valuation methods—first-in-first-out (FIFO) or last-in-first-out (LIFO). In times of rising prices, FIFO typically results in higher earnings, while LIFO can reduce tax liabilities. This article explores the advantages and disadvantages of each method, providing accountants with the insights needed to […] The post LIFO or FIFO During Inflationary Times? appeared first on The CPA Journal.| The CPA Journal