Beginning in 2018 the accounting for investments in stock changed. The former methods used were accounting for stock as trading securities, as available for sale securities,
Question 1
Beginning in 2018 the accounting for investments in stock changed. The former methods used were accounting for stock as trading securities, as available for sale securities, and the equity method. Describe trading and available for sale securities and the past accounting for each (the equity method will be covered later). Describe the new method of accounting for these securities beginning in 2018.
Question 2
Describe the two methods of accounting for
Question 3
Why do companies use the LIFO method of accounting for inventories? The international accounting standards do not allow the use of LIFO – support the use of LIFO on financial statements allowed by the U.S. standards.
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