Chose 3 standards that you feel will have a significant impact on the accounting profession and financial reporting. Write a brief summary of the standard, including number, date issued, date effective, and identify why you believe this standard will have a significant on accounting and financial reporting. You can draw on your own personal accounting experiences in determining which standards will be most impactful.

Answer rating: 100% (QA)

1 IAS 2 Inventories IAS 2 Inventories became effective for financial statements covering periods beginning on or after 1 January 1995 In May 1999 IAS 10 Events After the Balance Sheet Date amended par... View the full answer