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Basic Question 6 of 12
The SFAS No. 34 requirement relating to capitalization of interest costs incurred on self-construction results in immediate tax advantages. True or False?
User Contributed Comments 6
| User | Comment |
|---|---|
| viannie | Tax on expensed: reap tax benefit immediately Tax on capitalized goods: reap tax benefit over the life of the goods in the form of depreciation |
| wundac | MAKES SENSE |
| Fotsta | more income-more tax |
| czar | more expense-less tax |
| Tom0409 | What is SFAS No. 34? |
| Inaganti6 | @tom0409 Something that's supposed to make your life harder when you sit for the CFA exams, basically. |
Your review questions and global ranking system were so helpful.
Lina
Learning Outcome Statements
describe general principles of expense recognition, specific expense recognition applications, implications of expense recognition choices for financial analysis and contrast costs that are capitalized versus those that are expensed in the period in which they are incurred
CFA® 2024 Level I Curriculum, Volume 2, Module 2.