How is the accounting treatment of the following asset's valuation (after acquisition) different between 1FRS and US GAPP?

(2) GAAP and IFRS have their own “Conceptual Frameworks” for financial accounting.

– What roles does IASB’s Conceptual Framework play? Is it different from the FASB?

– What are the contents of IASB’s conceptual frameworks? is it different from the FASB?

Note: see the 2018(new) Conceptual Frameworks.

(3) Explain ‘Rule–based vs. Principle– Rargaclii in setting accounting standard

– Show the benefits of each approach

– Any kind of problem in adopting those approaches.

(4) Explaining the accounting treatment for the impairment of Goodwill and Infinite-
life Intangibles (other than goodwill).

(5) Answer 1 question out of the following 2 questions

1) How is the accounting treatment of the following asset’s valuation (after acquisition)

different between 1FRS and US GAPP?

How is the accounting treatment of the following asset’s valuation (after acquisition) different between 1FRS and US GAPP?