Describe the between ifrs and us gaap

Reference no: EM131823898

Assignment

Length: 1000-1200 words.

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).

Reference no: EM131823898

Questions Cloud

Is there an emphasis or focal point in your story : What medium (photography, painting, drawing, video, cartoon strip, 3D sculpture, etc.) would best capture the sequence of events? Explain.

Course of six generations : In experiment 1 you recorded the frequency of certain butterfly traits over six generations in a stable habitat. Did you observe any fluctuations

What formal qualities and design elements might separate : Tell us what you think about this observation - is drawing merely a tool to be used in the service of other artistic media, such as painting or sculpture?

Observed between the lymph node and spleen : What structural similarities are observed between the lymph node and spleen?

Describe the between ifrs and us gaap : There are many differences with the measurement of assets between IFRS and U.S. GAAP. Property, plant, and equipment (IAS 16) - Cost elements.

What purpose did art serve during this time : As we've read, during the 15th and 16th centuries, great value was placed on the ability to draw realistically and to represent nature accurately.

Discuss how stress can cause excessive : Discuss how stress can cause excessive and prolonged cortisol release and the types of disease states that may develop as a result.

How much was net income understated or overstated : A company makes an accrued revenue adjusting entry for $780 and an accrued expense adjusting entry for $510. How much was net income understated or overstated?

Determine net income for the year ended december : At December 31, 2018 total assets had increased to $69,000, Given this information, determine Net Income for the year ended December 31, 2018

User Account

All Pages