Buy custom Choose A Current International Accounting Standard (Ias) Or International Financial Reporting Standard (Ifrs). Briefly Summarise Its Provisions And Assess Whether The Standard Can Be Considered To Be ‘Principles-Based’ Or ‘Rules-Based’, E...

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The amount of any write-down of inventories to net realisable value and all losses of inventories shall be recognised as an expense in the period the write-down or loss occurs. [IAS 2.34] The amount of any reversal of any write-down of inventories arising from an increase in net realisable value shall be recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs...

[IAS 2.34]

Principle-based or Rule-based discussion

Before the discussion of whether the IAS 2 belongs to Principle-based standard or rule-based standard, the definitions of those two standards are necessary to be addressed. According to the Financial Services Authority (2007), the Principles-based accounting provides a conceptual basis for accountants to follow and place greater reliance on principles and outcome-focused, high-level rules as a means to drive at the regulatory aims we want to achieve, and less reliance on prescriptive rules...

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Choose A Current International Accounting Standard (Ias) Or International Financial Reporting Standard (Ifrs). Briefly Summarise Its Provisions And Assess Whether The Standard Can Be Considered To Be ‘Principles-Based’ Or ‘Rules-Based’, E... Critically Assess The Proposals To Introduce A Specialised Ifrs For Smes And Briefly Outline The Problems That Still Have To Be Resolved Before A Final Standard Is Published Later This Year. china's international accounting rules How would International Financial Reporting Standards affect the quality of Canadian accounting information? International Financial Reporting Standards International US Financial Reporting Convergence Report Principles-Based Accounting And Rules-Based Accounting Standard Chartered standard deviant The theries we use to help us understand standard setting in national arenas don't work so well at the international level where the international accounting starndards board is taking a lead role. We will have to modify them or expand our theoret... Advantages and Disadvantages of Principles-Based Accounting Standard 12 Standard Oil 1911 Standard Soap Company Cost Accounting Standard of living

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