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| Topic: |
Business
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| Number of pages / Number of words: |
2 / 342 |
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Almost all companies are required to prepare their financial statements as set out by the Financial Accounting Standards Board (FASB), whose standards are generally principles-based. Recently, there has been much debate on whether principle-based accounting would be more efficient than the popular rules-based accounting - especially in response to accounting scandals, such as Enron and Worldcom, the current way of accounting has been under a great deal of criticism...
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Almost all companies are required to prepare their financial statements as set out by the Financial Accounting Standards Board (FASB), whose standards are generally principles-based. Recently, there has been much debate on whether principle-based accounting would be more efficient than the popular rules-based accounting - especially in response to accounting scandals, such as Enron and Worldcom, the current way of accounting has been under a great deal of criticism...
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General points of the essay
Activity Based Accounting
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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