Analysis of the LIFO inventory valuation method during the onset of IFRS

I propose that the Last in, First out (LIFO) inventory valuation method needs to be reevaluated. I will evaluate the impact of the LIFO method on earnings of publically traded companies with a LIFO reserve over the past 10 years. I will begin my proposal with the history of how the LIFO method became an acceptable valuation method and discuss the significance of LIFO within the accounting profession Next I will provide a description of LIFO, the First in, First out (FIFO), and the weighted average inventory valuation methods and explore the differences among each. More specifically, I will explore the arguments for and against the use of the LIFO method and the potential shift towards financial standards that do not allow LIFO (a standard adopted and influenced by the International Financial Accounting Standards Board). Data will be collected from Compustat for publicly traded companies (with a LIFO Reserve) for the past 10 years. I will document which firms use LIFO, analyze trends relating to LIFO usage and LIFO reserves (the difference in the cost of inventory between using LIFO and FIFO), and evaluate the effect on earnings. The purpose of this research is to evaluate the accuracy of LIFO in portraying earnings and to see how much tax has gone uncollected over the years because of the use of LIFO. Moreover, I will provide an opinion as to whether U.S. GAAP should adopt a standard similar to IFRS and ban the LIFO method.

Preservice Teacher Preparation in Meeting the Needs of Gifted and Other Academically Diverse Students

The issue of how to respond to the diverse academic needs of students is one of the central challenges of teaching. This project studied how preservice teachers develop an awareness of the needs of academically diverse learners and how they intend to implement and/or modify instruction to meet those needs. Participants all came from one university. As part of the design of the study, the participants were surveyed to investigate (a) their attitudes and beliefs towards academically diverse learners; (b) the teaching practices they would utilize in response to academic diversity in their classrooms; and (c) the confidence they have in their abilities to identify and address these various needs in their classrooms. Several strategies including activities to enhance creativity, cooperative learning, individual instruction, problem-solving activities, and projects were considered noteworthy for the ratings by the preservice teachers as appropriate for all students. Small differences were found based on the preservice teachers' year of placement in the School of Education, indicating that as students progress through this program, they may learn more about different techniques and when and for whom they are appropriate; however, differences across groups were not statistically significant. Results also indicated that across the different years in the program, preservice teachers did not have very high or very low confidence in addressing these issues in their own classrooms. Each grouping fell around the middle level of confidence.