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 […]