US GAAP generally follows historical cost accounting in reporting property, plant, and equipment (PP&E). IFRS is moving towards fair value accounting with respect to reporting PP&E. Which approach do you think is preferable? What are the pros & cons of each? In your analysis, keep in mind the point of view's of the public users, internal users, and practitioners
US GAAP generally follows historical cost accounting in reporting property, plant, and equipment (PP&E). IFRS is moving towards fair value accounting with respect to reporting PP&E. Which approach do you think is preferable? What are the pros & cons of each? In your analysis, keep in mind the point of view's of the public users, internal users, and practitioners
Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter16: Advanced Topics Concerning Complex Auditing Judgments
Section: Chapter Questions
Problem 46RSCQ
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US GAAP generally follows historical cost accounting in reporting property, plant, and equipment (PP&E). IFRS is moving towards fair value accounting with respect to reporting PP&E. Which approach do you think is preferable? What are the pros & cons of each?
In your analysis, keep in mind the point of view's of the public users, internal users, and practitioners.
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