U.S.Generally Accepted Accounting Principles differ from IFRS in the accounting treatment of:
A)R and D Costs.
B)capitalization of internally generated intangible assets.
C)reversals of write-downs due to the impairment of plant assets.
D)all of the above.

Question

Quizplus · Accepted Answer

U.S. Generally Accepted Accounting Principles differ from IFRS in the accounting treatment of all three options. 
A) R&D costs: Under U.S. GAAP, research costs are expensed when incurred, whereas under IFRS, research costs can be capitalized if certain criteria are met. Development costs can be capitalized under both U.S. GAAP and IFRS, but the criteria for capitalization differ between the two frameworks. 
B) Capitalization of internally generated intangible assets: Under U.S. GAAP, internally generated intangible assets are usually expensed, whereas under IFRS, certain internally generated intangible assets can be capitalized if certain criteria are met. 
C) Reversals of write-downs due to impairment of plant assets: Under U.S. GAAP, write-downs can be reversed only if there is a change in the facts and circumstances that led to the impairment, whereas under IFRS, write-downs can be reversed if there is an increase in the asset's recoverable amount.

USGenerally Accepted Accounting Principles Differ from IFRS in the Accounting