X hits on this document

Powerpoint document

A Standard Setting Perspective on Current Issues Facing the Accounting Profession - page 29 / 29

68 views

0 shares

0 downloads

0 comments

29 / 29

29

Concluding comments

Not always clear what is the most appropriate response to standard setting challenges

Convergence with international standards

Changes to U.S. GAAP in the absence of complaints or problems

Tangible and immediate costs imposed on preparers and users of U.S. GAAP

Accounting for increasingly complex arrangements

Defining the boundaries of the reporting entity

Fair values => issues of reliability and issues of auditability

Restore trust in financial reporting

Move to less-detailed principles-based standards versus attempt to provide even more detailed guidance, so that expectations    are unambiguous

Take account of regulatory/legislative effects

Document info
Document views68
Page views68
Page last viewedSun Dec 04 15:21:53 UTC 2016
Pages29
Paragraphs508
Words2564

Comments