1.GlaxoSmithKline is a global pharmaceutical and consumer health-related products company located in the United Kingdom. The company prepares its financial statements in accordance with International Financial Reporting Standards.
Required:
1. How does the company value its property, plant, and equipment? Does the company have any other options under IFRS for valuing these assets? How do these options differ from U.S. GAAP?
2. What are the company's policies for possible reversals of impairment losses for goodwill and for other noncurrent assets? How do these policies differ from U.S. GAAP?