IFRS requires companies to reconcile the historical cost and accumulated depreciation at the beginning of the period with amounts at the end of the period.

Question

Quizplus · Accepted Answer

IFRS does require companies to reconcile the historical cost and accumulated depreciation at the beginning of the period with amounts at the end of the period. This is done to ensure accurate reporting of a company's assets and their depreciation over time.

IFRS Requires Companies to Reconcile the Historical Cost and Accumulated