There are many differences with the measurement of assets between


Question Description:

35

There are many differences with the measurement of assets between IFRS and US 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) a. Expense recognition b. Restructuring c. Costs included in inventory Property, Plant, and Equipment (IAS 16) a. Cost Elements b. Cost Measurements c. Depreciation (component) Investments (IAS 40) a. Fair value model (FVM) vs Cost model Borrowing costs (IAS 23) Intangible assets (IAS 38) Answer must include: 800 words (min) verifiable references

Answer

35