Question: 19. What is the difference between the Codification and the Codification Research System? 20. What are the primary advantages of having a Codifica- tion of
19. What is the difference between the Codification and the Codification Research System? 20. What are the primary advantages of having a Codifica- tion of generally accepted accounting principles? 21. What are the sources of pressure that change and influ- ence the development of GAAP? 22. Some individuals have indicated that the FASB must be cognizant of the economic consequences of its pro- nouncements. What is meant by "economic conse- quences"? What dangers exist if politics play too much of a role in the development of GAAP? 23. If you were given complete authority in the matter, how would you propose that GAAP should be developed and enforced
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