What are two arguments against the use of the rules-based approach to standard-setting? What are two arguments
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What are two arguments against the use of the rules-based approach to standard-setting?
What are two arguments against the use of the principles-based approach to standard-setting?
Which set of standards gives more industry-specific guidance?
Give examples to support your answer Summarize the steps of the recently converged revenue recognition standard.
How is this indicative of future harmonization efforts? How has the reporting of comprehensive income changed under US GAAP to converge?
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Answer Q 1 1A rulesbased approach to regulation prescribe in detail or gives a set of rules how to behave whereas a principlebased approach to regulation outcomes and principles are set and the contro... View the full answer
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