There are many differences with the measurement of assets between IFRS and U.S. GAAP. For each of the following topics, please describe how it would be handled with both sets of standards, and provide a minimum of 2 examples of issues surrounding the first time adoption of IFRS:
Inventories (IAS 2)
Expense recognition
Restructuring
Costs included in inventory
Property, plant, and equipment (IAS 16)
Cost elements
Cost measurements
Depreciation (component)
Investments (IAS 40)
Fair value model (FVM) versus cost model
Borrowing costs (IAS 23)
Intangible assets (IAS 38)
1,000-1,200 words