Push-down Accounting and the Recording of Both Tangible Assets and Intangible Assets
- , the FASB has not taken a position on the use of push-down accounting. Take a position on whether push-down accounting provides the most relevant information for both internal and external financial statement users. Provide support for your rationale.
- Compare the key differences between U.S. GAAP and IFRS’s position on both intangible research and development costs and tangible depreciable assets. Indicate the key benefits and drawbacks to financial statement users of each method (i.e., U.S. GAAP and IFRS). Next, determine the method that provides the most relevant information to financial statement users. Provide support for your rationale.
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what is the difference in reporting exchange and a nonexchange transaction?
- Distinguish between an exchange and a nonexchange transaction. Analyze the reporting requirements for nonexchange transactions under GASB Statement No. 33 Accounting and Financial Reporting for Nonexchange Transactions focusing on the required criteria for reporting revenue on the modified accrual basis.
- Describe circumstances under which a government entity must report a pass-through grant as both revenue and expenditure. Examine the importance of accurately reporting pass-through grants on government entities.
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