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American Public University Operations And Supply Chain Management Assignment Help - Financial Accounting


Question - Case 3-5: International versus U.S. Standards in Ch. 3 of Financial Accounting Theory and Analysis
Case 3-5 International versus U.S. Standards Under U.S. GAAP, property, plant, and equipment are
reported at historical cost net of accumulated depreciation. These assets are written down to fair
value when it is determined that they have been impaired. A number of other countries, including
Australia, Brazil, England, Mexico, and Singapore, permit the revaluation of property, plant, and
equipment to their current cost as of the balance sheet date. The primary argument favoring
revaluation is that the historical cost of assets purchased ten, twenty, or more years ago is not
meaningful. A primary argument against revaluation is the lack ...Read More

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