Question

Recent pronouncements of the FASB indicate that the FASB is moving away from historical cost accounting toward the use of current, or fair, value. In your debate on this issue, support your position with references to the conceptual framework and to concepts of capital maintenance where appropriate.
Team Debate:
Team 1: Present arguments that historical cost is more relevant than current value.
Team 2: Present arguments that current value is more relevant than historical cost.



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  • CreatedDecember 17, 2014
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