Both U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) explicitly require the use of the absorption costing method for valuing product inventories. Do you believe such accounting standards should permit the use of the variable costing approach and the contribution format for the income statement presentation? Why or why not? Share the basis for your conclusion?
SLP 3 ASSIGNMENT: In the Matter of South Georgia Health Partners et al. FTC Docket No. C4100 2003 Complaint:https:www.ftc.govsitesdefaultfilesdocumentscases200311sgeorgiacomp.pdf Decision
SLP 3ASSIGNMENT:In the Matter of South Georgia Health Partners, et al., FTC Docket No. C-4100 (2003)Complaint:https://www.ftc.gov/sites/default/files/documents/cases/2003/11/sgeorgiacomp.pdfDecision and order:https://www.ftc.gov/sites/default/files/documents/cases/2003/11/sgeorgiado.pdfAfter reviewing the complaint and decision and order