Compare and contrast the use of historical cost and fair value accounting under both U.S. GAAP and IFRS. What are the challenges associated with establishing fair values? How can management address those challenges?
Streetwear fashion is a street movement born in the late 1970s in Los Angeles, California by the surf culture. It is defined as casual and comfortable clothing. By today’s definition, Streetwear is a fashion style inspired by what is happening or current ongoing scene on the streets. It is getting more diverse as sportswear brands also play the role in the streetwear scene. Sportswear brands sneakers have made sportswear have set the brand a footwear benchmark in the streetwear style. It is heavily influenced by the music and skateboarding style, which is the main interest of the youth in this generation. In this era, streetwear fashion is no longer a stranger in the fashion industry. Streetwear brands got influenced by certain aesthetic such as skateboarding, hip-hop music and lifestyle. Streetwear apparels graphics are usually referring to the pop culture of the following generation. Youth sort of find them nostalgic and this make them appreciate it not on the fact that it has good graphics but it is because it creates a nostalgic moment that the youth are able to relate to. Design in streetwear staples such as photography, photo collage, illustration, and typography. It has the concept as fast fashion brands but streetwear brands have an iconic identity in the fashion scene. Modern streetwear culture is not just on the clothing line. Streetwear brands start creating more diverse products from electric guitar to ashtray instead of just clothing to delve into the lifestyle of the youth. There’s no doubt that streetwear brands have a great impact on the streetwear culture and fashion realm. Mass media plays the role in making streetwear brand popular through entertainment. The youth have the easy access to the advertising and commercial with the social media nowadays. With the appearance in popular movies and music, youth are exposed to the streetwear brands easily too. It has become the uniform of the famous artists in the media. Celebrities also start wearing certain streetwear brand instead of luxury brands. Living in the era where the youth is driven by po>GET ANSWER