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

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