Description of chosen model
Fixed assets are assets in non-current status of a business. It is an important element in the enterprise's statement of financial position. Most fixed assets include land and buildings, plant and machinery, furniture and fixtures, motor vehicles, and office equipments. All these fixed assets may include transaction such as acquisition, disposal, depreciation, and impairment. The chosed model of this paper is Chirstopher Nobes. For this paper, I am going to find and discuss the depreciation treatment in accounting principle, the discrepancies between two country, USA, and CHINA. Casues and difference in international reporting. What is the difference in environment of accounting under the Globe (Code and Common Law)