Lieneck, Cristian H.2024-01-022024-01-022015-04Lieneck, C. H. (2015). Accounting with “LIFO” vs. “FIFO”: The devil is in the details. Medical Group Management Association (MGMA) Connection, 15(3), 26–29.https://hdl.handle.net/10877/17867The ongoing collaboration between the International Financial Reporting Standards (IFRS) and Federal Accounting Standards Board (FASB) has tax-related implications for medical group practices. One of the goals of this collaboration — harmonization of accounting standards across countries — has been pursued since post-World War II economic integration. Generally accepted accounting principle (GAAP) negotiations involve increased global transparency and similarity of accounting standard.Text4 pages1 file (.pdf)encost methodslast-in, first-outfirst-in, first-outaccountingArticle