What is component depreciation and when must it be used

Assignment Help Finance Basics
Reference no: EM131146151

Write a 700- to 1,050-word summary about IFRS versus GAAP. The summary should be structured in a subject-by-subject format. An introduction and a conclusion are needed. APA format. References and citations.

Your essay should include the answers to the following:

• IFRS 8-1: What are some steps taken by both the FASB and IASB to move to fair value measurement for financial instruments? In what ways have some of the approaches differed?

• IFRS 9-1: What is component depreciation, and when must it be used?

• IFRS 9-2: What is revaluation of plant assets? When should revaluation be applied?

• IFRS 9-3: Some product development expenditures are recorded as development expenses and others as development costs. Explain the difference between these accounts and how a company decides which classification is appropriate.

• IFRS 10-2: Explain how IFRS defines a contingent liability and provide an example.

• IFRS10-3: Briefly describe some similarities and differences between GAAP and IFRS with respect to the accounting for liabilities.

Reference no: EM131146151

Questions Cloud

Determine the coefficient of dry friction : A spring-mass system is subjected to Coulomb damping. When a harmonic force of amplitude 120 N and frequency 2.5173268 Hz is applied, the system is found to oscillate with an amplitude of 75 mm.
Customer information was vulnerable to hackers : A few months ago, the president of Clearwater National Bank hired you to improve their IT security program. She was concerned that customer information was vulnerable to hackers, and it was up to you to provide the best possible protection from these..
Determine the equivalent viscous-damping constant of system : Determine the equivalent viscous-damping constant of the system.
Which trait is most important and why : Which trait is most important and why? Valuable traits of successful leaders can be grouped into three broad sets of capabilities: purely technical skills (like accounting or operations research), cognitive abilities (like analytical reasoning or qua..
What is component depreciation and when must it be used : What is component depreciation, and when must it be used? What is revaluation of plant assets? When should revaluation be applied? Explain how IFRS defines a contingent liability and provide an example.
Submit an mla formatted research bibliography : Submit an MLA formatted research bibliography (works cited page). - Bibliography MUST have five sources.- Observe properly formatted features such as indentation, alphabetical order, and line spacing.
Find the resulting amplitude of steady-state vibration : Assume the coefficient of friction between the mass and the horizontal surface as 0.25.
Explain how knowledge management systems can assist : Describe what quality system is and its role in maintaining continuous improvement - Explain how knowledge management systems can assist an organisation in its continuous improvement processes.
Explain factors that affect consumer responsiveness to price : Explain the factors that affect consumer responsiveness to price changes for this product, using the concept of price elasticity of demand as your guide.

Reviews

Write a Review

Finance Basics Questions & Answers

  Passengers in the other car for personal injuries

Al Smith, who lives in Territory five, carries 10/20/5 compulsory liability insurance along with optional collision that has a $300 deductible. Al, who was at fault in an accident, caused $4,000 damage to the other auto, as well as $900 damage to ..

  Discuss the possibility of a not-for-profit health care

Discuss the possibility of a not-for-profit health care organization issuing stock and why the management of such an organization might want to do this. Explain your rationale.

  Picture of norton inventory management

Average of the ends of months (use the 13 month ends) Which method provides the most accurate picture of Norton's inventory management? Why? Which method do you think Norton is currently using? Why?

  Describe the currency risk your company faces

Company needs to make a payment of e100,000 to a European supplier in three months. The current spot exchange rate is $1.14/e and the three-month forward rate is $1.03/e.  The annual interest rate is 1.0% in the U.S. and 4.5% in Europe..

  Identifying and managing risk

Identifying and Managing Risk

  Find the present value of the streams of cash flows shown

Find the present value of the streams of cash flows shown in the following table. Assume that the firm's opportunity cost is12%.

  Wat is meant by an agency cost or agency problem do these

1what is meant by an agency cost or agency problem? do these interfere with shareholder wealth maximization? why? what

  Expected value of the annual net cash flows

What is the expected value of the annual net cash flows from each project? What is the coefficient of variation (CV)? (Hint: sB = $5,798 and CV B 0.76.)

  What is the beta of aols business assets

Included in AOL's assets was $1.5 billion in cash and risk-free securities. Assume that the risk-free rate of interest is 3% and the market risk premium is 4%.

  Show that the growth rate in an index futures price equals

show that the growth rate in an index futures price equals the excess return of the index over the risk-free rate.

  How might these be mitigated

What pressures exist that might encourage unethical behavior, particularly as it pertains to the firm's financial reporting or situation? How might these be mitigated?

  Henderson industries has 500 million of common equity its

henderson industries has 500 million of common equity its stock price is 44 per share and its market value added mva is

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd