Accountants in other countries sometimes write up the recorded amounts of long-term assets when their values increase.

Question:

Accountants in other countries sometimes write up the recorded amounts of long-term assets when their values increase. Why are U.S. accountants reluctant to increase the recorded value of property, plant, and equipment when that value increases?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting concepts and applications

ISBN: 978-0538745482

11th Edition

Authors: Albrecht Stice, Stice Swain

See More Books

Question Posted: Dec 30, 2011 04:48 AM

See More Questions

An object moving with uniform acceleration has a velocity of 13.0 cm/s in the positive x direction when its x coordinate is 3.30 cm. If its x coordinate 1.95 s later is -5.00 cm, what is its...
Consider the sketch of a foundation at a depth of 5m in clay soil with properties below. P is applied eccentrically on the footing. c' = 5kPa, cu = 45kPa, p= 30 You = 18.5kN/m and Yat=21.5kN/m Note,...
The stator of a 220-V, 60-Hz induction motor has 12-turn coils. You wish to re-wound it for working at 380-V, 50-Hz. While maintaining the flux same as of original motor, calculate the number of...
Agler Company is a manufacturer of toys. Its controller, Joyce Rotzen, resigned in August 2016. An inexperienced assistant accountant has prepared the following income statement for the month of...
In Exercises 912, use the given conditions to write an equation for each line in point-slope form and general form Passing through (4, -7) and perpendicular to the line whose equation is x - 2y - 3 =...
Let y = ex , where x is normally distributed with mean and variance 2. Show that stdev(y) E[y] = e 2 1 .
Tabulation and Interpretation of Survey Results Your business communication class at South Bay College was asked by the college bookstore manager, Harry Locke, to conduct a survey. Concerned about...
The ending balance of the Accounts Receivable account was $12,000 and the beginning balance was $14,000. Collections from customers were $22,000. What was the amount of services billed to customers?...
Richard chooses technique 0 and 2 requiring 10+10-20 efforts and provising 10+11=21 benefits. Hence, 21 is returned as the output Example 2: input1: 3 input2: (10,10,10,10) input3: (10,11,12,15)...
Sometimes long-term assets experience sudden dramatic decreases in value. For example, a waste dump might suddenly be constructed next to an office building. When such impairment of value occurs,...
Why is it common to have a gain or loss on the disposal of a long-term operating asset? Is it true that if the useful life and salvage value of an asset could be known with certainty and were...
Who did you work with in the system?
What is the logical ending point of a sequential game that starts at position (2,8) with player 1 moving first? Show your work. Player 1 Strategy B Strategy A Strategy A Player 2 Strategy B (3,4)...
Problem A-6 Income and Retained Earnings Statements Peanut Corporation is a private corporation using ASPE. At December 31, 2017, an analysis of the accounts and discussions with company officials...
8.5 Area Between Curves (dy) Calculus-Calculator Allowed Mastery Check #2 Name: Date: Period: For 1-2, find the area of the region bounded by the following curves. Show the integral set up with...
Your company has a travel policy that reimburses employees for the "ordinary and necessary" costs of business travel. Employees often mix a business trip with pleasure by either extending the time at...
Simulation A: 1 Diameter 600 mm 2 Focal Length 1800 mm 3 F/D Ratio 3 4 Eyepieces 30 m 5 Barlow? N 6 Celestial Sights M42 - M31 - M51 Simulation B: 1 Diameter 150 mm 2 Focal Length 1800 mm 3 F/D Ratio...
The 1998 annual report for Philip Morris Companies, Inc., disclosed that 4 billion shares of common stock had been authorized. At the end of 1997, 2,805,961,317 shares had been issued and the number...
Refer to the Conservation Ecology (Dec. 2003) study of the causes of forest fragmentation, presented in Exercise 2.166 (p. 97). Recall that the researchers used advanced high-resolution satellite...
Write the ground-state electron configuration for each of the following atoms: (a) Titanium; (b) Chromium; (c) Europium; (d) Krypton.
Analysts cannot unequivocally accept the depreciation amount. One must try to estimate the age and efficiency of plant assets. It is also useful to compare depreciation, current and accumulated, with...
On December 31, Year 1, Carme Company reports its accounts receivable from credit sales to customers. Carme Company uses the allowance method, based on credit sales, to estimate bad debts. Based on...
K2 Sports, a wholesaler that has been in business for two years, purchases its inventories from various suppliers. During these two years, each purchase has been at a lower price than the previous...
A financial manager has the choice between two risky assets to propose to an investor. The remuneration of this manager is composed of a fixed payment and a variable payment that depends on the...
1. Information about Daniel Enterprises for the month ending December 31, 2019, is as follows: Sales $600,000 Selling and administrative expenses 36,000 Net operating income 16,000 Beginning...
Question 7 (of 13) value 10.00 points On January 1 of this year, Shannon Company completed the following transactions (assume a 9% annual interest rate): (FV of $1. PV of 51. FVA or $1. and PVA of...

Accountants in other countries sometimes write up the recorded amounts of long-term assets when their values increase.

Question:

Step by Step Answer:

US accountants do not write up asset amounts when their values increase for several reas...View the full answer

Accounting concepts and applications

Students also viewed these Accounting questions