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Unformatted text preview: if chosen all assets must be revalued on a regular basis again, this is prohibited by US GAAP IFRS Acquisition & Disposition (cont) Interest Capitalization: IAS No. 23 originally gave the company the choice to either (1) capitalize or (2) immediately expense interest accrued during the construction period In 2007 this was revised - now requires interest to be capitalized in most instances, which is what US GAAP requires currently Effectively there is now no major difference between US GAAP and International standards in capitalizing interest...
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