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Author Question: Which of the following is true about accounting for fixed assets? (Read 55 times)

@Brianna17

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on: Apr 8, 2019
Which of the following is true about accounting for fixed assets?
◦ Depreciation expense under IFRS will likely be higher than under GAAP, because acquisitions of assets with multiple components must be separately depreciated under IFRS, whereas under GAAP assets could be bundled and depreciated over the longest of the useful life for any of the components.
◦ IFRS doesn't allow capitalization of any asset that separately accounts for less than 20% of total assets.
◦ Depreciation expense under IFRS will likely be less than under GAAP, because standards for depreciable lives on asset classes are much longer than under GAAP.
◦ IFRS and GAAP account for fixed assets in much the same way.
Accounting Information Systems ¦ Romney, Steinbart ¦ 14th Edition
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Marked as best answer by @Brianna17 on Apr 8, 2019

ntsoane kedibone

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Reply #1 on: Apr 8, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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@Brianna17

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Reply 2 on: Apr 8, 2019
YES! Correct, THANKS for helping me on my review

ktidd

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Reply 3 on: Yesterday
Wow, this really help

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