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  1. #11
    Advanced Taster
    Join Date
    Nov 2010
    Location
    Ohio
    Posts
    190

    Re: Possible tax change could raise bourbon prices

    Another possibility that hasn't been discussed either here or in the article is the eventual conversion from US GAAP to IFRS for financial reporting. Under IFRS, FIFO is the only method of inventory management allowed. Recently, members of the EU have changed the rules on financial reporting, requiring US multinationals to use IFRS in their financial reporting. While the SEC allows the use of either IFRS or US GAAP.

    Essentially, this means that US multinationals that want to use LIFO would have to keep two sets of books. One, using LIFO, for the US and the other, using FIFO, for the rest of the world. Apparently, Beam decided the additional cost of having two sets of books wasn't worth it. While others, such as Brown-Forman, decided it was.

  2. #12
    Disciple
    Join Date
    Apr 2010
    Location
    Wisconsin
    Posts
    1,536

    Re: Possible tax change could raise bourbon prices

    Ummm, mods?? Why has this not been moved by now???

 

 

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