A company that prepares its financial statements according to International Financial Reporting Standards (IFRS) must calculate amortization of capitalized software development costs in the same way as under U. S. GAAP.

a) true

b) false

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5 June, 18:52

A company that prepares its financial statements according to International Financial Reporting Standards (IFRS) must calculate amortization of capitalized software development costs in the same way as under U. S. GAAP.

a) true

b) false

+1

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Beckett Strong · Answer 1

Answer: False

Explanation:

The accounting standards that a company follows must be the same. A company using IFRS for preparation of financial statements can not use GAAP for calculation of any head of financial statements. It must calculate amortization of capitalized software development cost as per rules of IFRS.

A company that prepares its financial statements according to International Financial Reporting Standards (IFRS) must calculate amortization of capitalized software development costs in the same way as under U. S. GAAP.a) trueb) false

A company that prepares its financial statements according to International Financial Reporting Standards (IFRS) must calculate amortization of capitalized software development costs in the same way as under U. S. GAAP.

a) true

b) false