Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. u.s. gaap does not allow the revaluation of fixed

U.S. GAAP does not allow the revaluation of fixed assets where as it is allowed...

80.2K

Verified Solution

Question

Accounting

U.S. GAAP does not allow the revaluation of fixed assets where as it is allowed under IFRS. Revaluation allows the entity to measure fixed assets at fair value. Discuss the advantages and disadvantages of using revaluation for property, plant, and equipment. Provide an example to support your discussion.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

Calculate the percent ionization of formic acid solutions having the following concentrations. Ka = 1.8x10-4 Part B...

Advance Math
1.2K views

Problem 8-25 (Algorithmic) Georgia Cabinets manufactures kitchen cabinets that are sold to local dealers throughout the Southeast....

Finance
1.2K views

Please answer it correctly. Here is a short problems. Please solve all problems correctly. Make sure...

Accounting
1.2K views

Month of January Selected information for January is presented below. Note that...

Accounting
1.2K views

Which of the following costs is inventoried when using absorption costing? ...

Accounting
1.2K views

Satterlee Co. produces 11,000 scanners per week. If 1.6% of these are defective, how many...

Accounting
1.2K views

Exercise 5-11 Blanchard Company manufactures a single product that sells for $280 per unit and...

Accounting
1.2K views

Hyde Company is considering two capital investments. Both investments have an initial cost of $6,000,000...

Accounting
1.2K views

On January 1, 2011, Charlie Corporation acquired all of the net assets of Rocky Corporation...

Accounting
1.2K views

Talk about the current techniques which is used by fly solo shoes company.

Finance
1.2K views

The Erickson toy company currently uses an injection- molding machine that was purchased 5 years...

Finance
1.2K views

True or false: A Loan to Value of 1.31 is considered acceptable. True or false:...