Bookkeeping
Bridging the Gap: Navigating the Complexities of IFRS and GAAP for Global Accounting Harmony
IFRS provides more detailed guidance on the derecognition of fixed assets, emphasizing the need to consider the timing and conditions of the disposal. For instance, IFRS requires that any remaining carrying amount of the asset be derecognized at the date of disposal, and any related revaluation surplus in equity be Read more…