Question
Currently, there is a difference between US GAAP and IFRS when it comes to investment property. US GAAP looks at regular PP&E and investment property
Currently, there is a difference between US GAAP and IFRS when it comes to investment property. US GAAP looks at regular PP&E and investment property the same while IFRS requires for investment property to be accounted for as a lease. Just based on this difference, do you think creditors would prefer US GAAP standards or IFRS?
A) US GAAP
B) IFRS
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International Accounting
Authors: Frederick D. Choi, Gary K. Meek
7th Edition
978-0136111474, 0136111475
