The US Financial Accounting Standards
Question # 00688177
Posted By:
Updated on: 05/21/2018 06:49 AM Due on: 05/21/2018
The US Financial Accounting Standards Board does not allow revaluation of non-current assets to fair value, but it does make it compulsory to account for the impairment costs associated with non-current assets as per FASB Statement No. 144 Accounting for the Impairment or Disposal of Long-Lived Assets.
What implications do you think these rules have for the relevance and representational faithfulness of US corporate financial statements?
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Rating:
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Solution: The US Financial Accounting Standards