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Question;Explain in 250 wordsUS GAAP follows the Historical Cost Concept in;valuing the cost of Long-Term Assets. Explain this principle 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#45522 | Written in 18-Jul-2015

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