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In the United States, public companies are required to report financial results using GAAP. However, accounting standards vary around the world and that makes comparing financial results of firms located in different countries quite challenging. In recent years, many countries have adopted a system of accounting principles known as International Financial Reporting Standards (IFRS). Why hasn't the U.S. followed the global trend of IFRS adoption? What cost and benefits might be associated with a switch to IFRS in the United States?
During 2010, Highlander Corp., had the following income and expenses: What is the amount of Highlander's Corp. charitable deduction for 2010?
What are some of the various lease options? When would you use one option over the others? What could be the financial influence of this decision?
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Doug purchased a new factory building on January 15, 1987, for $4,000,000. On March 1, 2009, the building was sold. Determine the cost recovery deduction for the year of the sale assuming he did not use the MACRS straight-line method.
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Describes several ways to increase the value of an organization. Which of these might be applicable to an organization and why? Please provide a reference.
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