IFRS allows more choice in valuation models for long-term assets than U.S.GAAP.

Name: IFRS allows more choice in valuation models for long-term assets than U.S.GAAP.
Brand: Quizplus
Rating: 4.9 (38 reviews)

Question

Quizplus · Accepted Answer

IFRS allows more choice in valuation models for long-term assets than U.S.GAAP, which generally requires the use of historical cost or amortized cost methods. IFRS, on the other hand, permits the use of fair value, revaluation, or depreciation models for certain types of assets.

IFRS Allows More Choice in Valuation Models for Long-Term Assets