"I applied to the University Scholars Program to develop a deeper understanding of conducting research at the collegiate level. The program will allow me the ability to research a topic that is not only applicable to my major but also an interest of mine. My goal is to conduct valuable research that will enhance my learning experience related to my academic career as well as my professional career. In addition, I look forward to meeting and networking with fellow peers as well as professionals."
Accounting with a specialization in audit.
- Florida Bright Futures
- University of Florida Honors Program
- Warrington's School of Business Dean's List
- Florida Business Leadership Society
- National Society of Collegiate Scholars
- Phi Eta Sigma National Honor Society
- Delta Epsilon Iota
- Various activities within the community relating to the organizations I am involved with.
Hobbies and Interests
- Fishing, football, traveling, and going to the beach.
US GAAP verses IFRS: Accounting for Inventory
The American Institute for Certified Public Accountants (AICPA) supports the idea of converging the United States and foreign accounting standards into a uniform set of standards. Convergence would allow companies in one country to have a lucid understanding of different companies all over the world by having consistent and comparable financial information. The United States Generally Accepted Accounting Principles (GAAP) is now slowly converting to principles based International Financial Reporting Standards (IFRS). My research relates to the inventory aspect of the convergence from US GAAP to IFRS. Under IFRS there is no last in, first out (LIFO) method when accounting for inventory. This has caused much discrepancy for companies who do and do not carry inventory on their books. The abandonment of LIFO would cause companies to report a higher amount of net income which directly relates to higher taxes. IFRS also allows companies to report inventory at either a lower cost or net realizable value. The adjustment of lower cost or market also allows companies to reverse these conditions under certain circumstances. My research will provide an understanding of this convergence in relation to inventory to evaluate if the benefits of IFRS outweigh the costs of implementation. This topic relates to many companies worldwide. However, my research will focus on the United States aspect of convergence. Through my research I will be able to evaluate if the IFRS method of accounting for inventory is beneficial or detrimental to companies that reside in the United States. My research will be conducted through traditional resources, including but not limited to scholarly articles and books. I will also apply real world situations by interviewing public accounting firms and companies who deal directly with this issue.