A) "In an operating business, the asset is used in combination with other assets and liabilities and resources such as human capital to generate profits by selling goods and services. Many argue that the most appropriate reporting of performance of such a business is to focus on the flows rather than current values". do you agree with this?

B) Some rely partly or wholly on information derived from a past transaction (historical cost). Why?

C) drafting the revisions to the Conceptual Framework, details on how these measurement methodologies might be applied in practice are considered within each individual accounting Standard, and not in the Conceptual Framework itself. why?

D) How should the ease or difficulty of establishing a given measure affect the choice of measurement method?

Answer rating: 100% (QA)

A The IFRS framework acknowledges many measurement bases in varying combinations to record assets in financial statements Some of them include the His... View the full answer