Question
The cornerstone of the U.S. GAAP in the preparation of the Balance Sheet, is the concept of historical cost and that fact that the Assets
The cornerstone of the U.S. GAAP in the preparation of the Balance Sheet, is the concept of historical cost and that fact that the Assets = Liabilities + Equity. Under IFRS these two concepts are no longer applicable. How do you think these changes will affect the average reader of the financials?
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Financial Reporting Financial Statement Analysis And Valuation A Strategic Perspective
Authors: Clyde P. Stickney, Paul Brown, James M. Wahlen
6th Edition
0324302959, 9780324302950
