All of the Following Are Ways in Which IFRS May

question 7

Multiple Choice

All of the following are ways in which IFRS may relate to managerial accounting except:

• A)IFRS governs managerial accounting methods.
• B)Managerial accountants usually do not use LIFO for internal reports,so managerial accounting reports are more likely to agree with IFRS than with U.S.GAAP,if the U.S.GAAP reports use LIFO.
• C)If the current IFRS approach of capitalizing R & D costs as assets prevails in the United States,then we are likely to see development costs capitalized for managerial reports.
• D)The accounting information that managers use in making decisions and evaluating performance need not comply with IFRS.

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