IFRS CH 10 - if chosen all assets must be revalued on a...

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PPE Valuation: IAS No. 16 gives a company the option to value their PPE subsequent to initial valuation at either – 1. Cost less accumulated depreciation 2. Fair value (revaluation) – which is prohibited by US GAAP – if chosen, then all assets under a particular class of PPE must be revalued on a regular basis
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IFRS – Acquisition & Disposition (cont) Valuation of Intangible Assets: - IAS No. 38 allows a company to value an intangible asset subsequent to initial valuation at either – 1. Cost less accumulated amortization 2. Fair value or revaluation (but only if fair value can be determined by referring to an active market) –
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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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This note was uploaded on 11/30/2010 for the course BUSINESS 4230 taught by Professor Dee during the Spring '10 term at Community College of Denver.

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IFRS CH 10 - if chosen all assets must be revalued on a...

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