Question: Current Attempt in Progress In a rules - based approach ( such as U . S . GAAP ) , compared to a principles -

Current Attempt in Progress
In a rules-based approach (such as U.S. GAAP), compared to a principles-based approach (such as Canadian GAAP),
the importance of communicating the best information to users is emphasized.
companies frequently do not interpret the rules literally.
since it is more prescriptive, it may be easier to defend how to account for a particular item.
the body of knowledge is smaller.
Attempts: 0 of 1 used
Current Attempt in Progress In a rules-based approach (such as U.S.

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