- CFA Exams
- CFA Level I Exam
- Topic 3. Financial Statement Analysis
- Learning Module 23. Long-lived Assets
- Subject 7. Presentation and Disclosures
CFA Practice Question
Regarding the disclosure requirements for PP&E, which piece of information is required by IFRS but not by U.S. GAAP?
A. Depreciation method
B. Useful lives
C. Accumulated depreciation expense
Explanation: Gross amount and accumulated amount should be disclosed. However, the useful lives or, equivalently, the depreciation rate, are not required by U.S. GAAP.
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