1)Compare and contrast the use of historical cost and fair value accounting under both U.S. GAAP and IFRS.
a) What are the challenges associated with establishing fair values?
b)How can management address those challenges?
1)Compare and contrast the use of historical cost and fair value accounting under both U.S. GAAP and IFRS.
a) What are the challenges associated with establishing fair values?
b)How can management address those challenges?
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