Question on Q1 2016 FAR Changes

  • Creator
    Topic
  • December 2, 2015 at 3:07 pm #198733
    Anonymous
    Inactive

    1. Is lower of cost or NRV calculated with the same two step process as lower of cost or market? Is it a one step process now? How is it calculated

    2. Since they will no longer be questioning extraordinary items the CSO has replaced extraordinary items with “Going Concern”. What type of questions will they ask on this and what do I need to know?

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