Which are two major differences between U.S.GAAP and IFRS in accounting for property,plant,and equipment PPE)?
A)Re-evaluation,impairment requirements
B)Component depreciation,re-evaluation
C)Interest cost during construction,impairment requirements
D)Depreciation method,interest cost during construction

Question

Quizplus · Accepted Answer

Under IFRS, revaluation of PPE is allowed, whereas U.S. GAAP does not permit revaluation. Additionally, IFRS requires component depreciation, where significant parts of an asset are depreciated separately, while U.S. GAAP does not have this requirement.

Which Are Two Major Differences Between U