Explain why companies revalue such assets on an annual basis, and give examples on depreciations, impairments and depletions.

Financial Accounting
Q1- IFRS requires capitalizing actual interest  in self-constructed assets. What are the five steps necessary to meet IFRS requirement.
Q2- A company abandons the historical cost principle and adopts the LCNRV method of valuing inventory. Explain the process of LCNRV
Q3- Long-lived tangible asset are associated with either depreciations, impairments or depletions. Explain why companies revalue such assets on an annual basis, and give examples on depreciations, impairments and depletions.

Last Completed Projects