Accounting- Define the accounting treatment for a taxi medallion

Define the accounting treatment for a taxi medallion (click the link below). Determine if the shared economy i. e. Uber, Zip Car and other elements of this industry. What is the accounting related issue that the “shared economy” may impose on taxi medallions?Discuss your response under both IFRS and GAAP. http: //www. usatoday. com/story/news/2015/05/17/taxi-medallion-values-decline-uber-rideshare/27314735/

Accounting- Define the accounting treatment for a taxi medallion

Question
Define the accounting treatment for a taxi medallion (click the link below).

Determine if the shared economy i.e. Uber, Zip Car and other elements of this industry.

What is the accounting related issue that the “shared economy” may impose on taxi medallions?

Discuss your response under both IFRS and GAAP.

http://www.usatoday.com/story/news/2015/05/17/taxi-medallion-values-decline-uber-rideshare/27314735/