Can someone help with case-study?

Jun 8th, 2013
Anonymous
Category:
Accounting
Price: $20 USD

Question description


Word requirment is between 150 - 175, and must pass plagiarism checker before final purchase.

• Case 3-5 International versus U.S. Standards


Under U.S. GAAP, property, plant, and equipment are reported
at historical cost net of accumulated depreciation. These assets are written
down to fair value when it is determined that they have been impaired. A number
of other countries, including Australia, Brazil, England, Mexico, and Singapore,
permit the revaluation of property, plant, and equipment to their current cost
as of the balance sheet date. The primary argument favoring revaluation is that
the historical cost of assets purchased ten, twenty, or more years ago is not
meaningful. A primary argument against revaluation is the lack of objectivity in
arriving at current cost estimates, particularly for old assets that either will
or cannot be replaced with similar assets or for which no comparable or similar
assets are currently available for purchase.


Required:


a. Discuss the qualitative concept of comparability. In your
opinion, would the financial statements of companies operating in one of the
foreign countries listed above be comparable to a U.S. company’s financial
statements?


Explain.

Tutor Answer

(Top Tutor) ikire
School: Purdue University

Studypool has helped 1,244,100 students

Review from student
Anonymous
" Awesome! Exactly what I wanted. "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1822 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors