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long-Term Assets

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Question;US GAAP follows the Historical Cost Concept in the valuing of long-Term Assets. Explain this principles and how it compares to the standards used in the reporting of Long-Term Assets under International Financial Reporting Standards (IFRS). If there is a convergence of standards, which method do you believe should be used and why?

 

Paper#39153 | Written in 18-Jul-2015

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