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Historical cost versus fair value accounting. US GAAP generally follows historical cost accounting in reporting property, plant, and equipment (PP&E). IFRS is moving towards fair
Historical cost versus fair value accounting.
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?
Keep in mind the point of view's of the public users, internal users, and practitioners.
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