English, Article edition: KRITÉRIA, KTERÁ LZE UPLATNIT PŘI ČLENĚNÍ MAJETKOVÝCH SLOŽEK TVOŘÍCÍCH MAJETKOVOU PODSTATU PODNIKU - NEHMOTNÁ A HMOTNÁ AKTIVA PODLE US GAAP A IAS/IFRS Markéta Novotná

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/197300
Physical Description
  • article
Language
  • English

Edition details

Title
  • KRITÉRIA, KTERÁ LZE UPLATNIT PŘI ČLENĚNÍ MAJETKOVÝCH SLOŽEK TVOŘÍCÍCH MAJETKOVOU PODSTATU PODNIKU - NEHMOTNÁ A HMOTNÁ AKTIVA PODLE US GAAP A IAS/​IFRS
Author
  • Markéta Novotná
Physical Description
  • article
Notes
  • The paper focuses on financial reporting of long-lived assets. The author's aim was to analyze the approach of two major accounting principles - IAS/​IFRS and US GAAP. Both of the principles address following issues: * initial recognition and measurement, * depreciation: allocation of capitalized costs over the useful life of the asset, * disposal of the asset. Broadly accepted classification of the long-lived assets divides the whole group into two parts: tangibles and intangibles. General definitions and recognition criteria are covered by the framework. Particular standards dial then with special matters. Although both international approaches have a lot in common, several differences emerge: * US GAAP do not allow to capitalize internally developed intangibles,however developed intangibles can be capitalized under special conditions according to IAS/​IFRS; * impairment: IAS/​IFRS allow to cancel or adjust the impairment towards the original value of the asset, US GAAP - once impairment is recognized, it is not permitted to cancel it and to return back to the original value of the asset; * IS /​IFRS use historical costs based treatment and allowed alternative treatment - revaluation, US GAAP don't use allowed alternative treatment of the assets - revaluation is not permitted; 138 * IAS/​IFRS set the useful life of the intangibles up to 20 years, US GAAP don't restrict the useful life at all. In the process of convergence of IAS/​FRS and USGAAPquestions have arisen which of the approaches should be taken as a crucial one for world accounting principles. Standard-setters prepare studies to support their current approach. Unified solution has not been found yet.
  • long-term assets, tangible assets, intangible assets, valuation, useful life, depreciation, depletion, amortization, future economic benefit, impairment
  • RePEc:prg:jnlaop:v:2004:y:2004:i:1:id:252:p:122-139
Language
  • English
Contributed by
OAIster

Get this edition

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment