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QUESTION
Based on the information found in the e-Activity, assess the key differences between U.S. GAAP and IFRS reporting for the testing of asset impairment and the requirement to write down the asset value.
- Based on the information found in the e-Activity, assess the key differences between U.S. GAAP and IFRS reporting for the testing of asset impairment and the requirement to write down the asset value. Indicate whether or not you support the U.S. GAAP or IFRS approach. Provide support for your position.
- As an investor, recommend a strategy for evaluating long-lived asset values contained on the balance sheet of a publically traded company so as to minimize the risk to the investor. Provide support for your strategy.
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