Solution Library

Differences with the Measurement of Assets between IFRS and U.S. GAAP

Question

There are many differences with the measurement of assets between IFRS and U.S. GAAP. For each of the following topics, please describe how it would be handled with both sets of standards, and provide a minimum of 2 examples of issues surrounding the first time adoption of IFRS:

  • Inventories (IAS 2)
    • Expense recognition
    • Restructuring
    • Costs included in inventory
  • Property, plant, and equipment (IAS 16)
    • Cost elements
    • Cost measurements
    • Depreciation (component)
  • Investments (IAS 40)
    • Fair value model (FVM) versus cost model
  • Borrowing costs (IAS 23)
  • Intangible assets (IAS 38)

Citations and references in APA format

Summary

This question belongs to accounting and discusses about differences with the measurement of assets between IFRS and U.S. GAAP.

Total word count: 1707

 

Download Full Solution

Comments

  • HWA
    Rasha

    this is a very good website

  • HWA
    maani

    I have 50 questions for the same test your page is showing only 28

  • HWA
    joeanne

    hi can you please help or guide me to answer my assignments. thanks

  • HWA
    joeanne

    hi can anyone help or guide me to my assignments. thanks

  • HWA
    Monik


  • HWA
    Cristina

    This solution is perfect ...thanks

  • HWA
    Janete

    Hello Allison,I love the 2nd image that you did! I also, had never heard of SumoPaint, is something that I will have to exolpre a bit! I understand completely the 52 (or so) youtube videos that you probably watched. Sometimes they have what you want, sometimes they don't! However, it is always satisfying when you are able to produce something that you have taught yourself. Great job!Debra 0 likes

  • HWA
    Sandeep

    Perfect bank of solution. 

  • HWA
    Oxana

    great !

  • HWA
    Paul Brandon-Fritzius

    thanks for the quick response. the solution looks good. :)

  • HWA
    tina Johnson

    thnx for the answer. it was perfect. just the way i wanted it. 

  • HWA
    Giuseppe

    works fine.