The main difference between U.S. accounting standards and international accounting standards when accounting for plant, property and equipment is

Question

Quizplus · Accepted Answer

International accounting standards allow plant, property, and equipment to be stated at current fair value with changes recognized in income or equity, whereas U.S. accounting standards do not permit the use of fair value to measure these assets. Additionally, U.S. accounting standards do allow for the recognition of impairment losses on long-lived assets, while international accounting standards do not permit such write-downs for plant, property, and equipment.

The Main Difference Between U