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Unformatted text preview: Comparison of US GAAP and IFRS - Ch.11 US GAAP Depreciation - Recognize depreciation with systematic manner - No depreciation for idle PP&E - Only require to review the estimations for depreciation when any events or circumstances indicate - Permit component depreciation but it is not common in practice Two stages tests: 1) Recoverability test, 2) Fair value test - Same - Same - Annual review for estima - Component depreciation asset have different patter Recoverable amount = Max (net selling price, No recoverability test Impairment Impairment loss = Recove Reversing impairment is not allowed Write-ups for subsequent r allowed (up to original car - Ch.11 I...
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This note was uploaded on 07/11/2010 for the course ACC 5110 taught by Professor Lee during the Winter '10 term at Wayne State University.

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