Abstract
This article analyzes matters related to IAS 16 Property, Plant, and Equipment from a random selected of the IFRS financial statements, with a particular emphasis on componentization and revaluation assets. There are two fundamental differences between IFRS and U.S. GAAP. The first difference is component depreciation required under IFRS. The second part is the option to revalue fixed assets to estimated market value under IFRS. The research has helped U.S. executives understand the complexities of global accounting for PP&E between U.S. GAAP and IFRS and then to know how these differences may potentially impact their multinational organization’s accounting function.
Highlights
Original PaperInternational Journal of Accounting and Finance Studies Vol 3, No 2, 2020 www.scholink.org/ojs/index.php/ijafs ISSN 2576-2001 (Print) ISSN 2576-201X (Online)
This article analyzes matters related to IAS 16 Property, Plant, and Equipment from a random selected of the IFRS financial statements, with a particular emphasis on componentization and revaluation assets
The research has helped U.S executives understand the complexities of global accounting for PP&E between U.S GAAP and IFRS and to know how these differences may potentially impact their multinational organization’s accounting function
Summary
International Journal of Accounting and Finance Studies Vol 3, No 2, 2020 www.scholink.org/ojs/index.php/ijafs ISSN 2576-2001 (Print) ISSN 2576-201X (Online).
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