The accounting for assets held for sale or disposal under U.S.GAAP and IFRS is substantially identical.

Question

Quizplus · Accepted Answer

The accounting for assets held for sale or disposal under U.S.GAAP and IFRS is substantially identical, as both require the assets to be recognized at fair value less selling costs and to be presented separately from other assets on the balance sheet. Additionally, impairment losses may be recognized under both standards if the fair value less selling costs is lower than the carrying amount.

The Accounting for Assets Held for Sale or Disposal Under