Question: How does a principle - based standard differ from a rules - based standard?

How does a principle-based standard differ from a rules-based standard?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

Drag and Drop 1 point possible ( ungraded ) OTC markets are principle based systems and exchanges are rules based systems. Identify the appropriate example of OTC and Exchange based systems. Drag the...

Q:

i need a good example of an Objective-Oriented Standard and Please explain how it is not quite a principle- based standard nor a rule-based Standard. also if you have an example of U.S. GAAP and IFRS...

Q:

Please read the questions and article and then answer about 2 or 3 pages answer. Please using paraphrasing, do not copy the article.Thank you. \fFinancial Crisis Advisory Group July 28, 2009 To the...

Q:

In September 2002, the Financial Accounting Standards Board (FASB) of the United States published a discussion paper seeking views on whether U.S. standard setting should move from a principle based...

Q:

Write a response of up to 500 words regarding the possible causes of action, including whether either party is potentially liable, and discuss why or why not? COURT OF APPEAL FOR BRITISH COLUMBIA...

Q:

Please use this lecture video texts to answer the questions down below: Lecture 1: And. SPEAKER 1 I won't now want to take up proving the plaintiff's case by expert testimony. The standard or...

Q:

Please read this lecture video texts to answer the questions down below, all the information you need is on this DOCUMENT , do not use outside sources: Lecture 1: And. SPEAKER 1 I won't now want to...

Q:

9 PROJECT Medule 5- Principle Based and Rules Based Accounting You have looked at the FASB and TASB on several issues. You will now look at Rales and Principle Based Accounting. I have assisted you...

Q:

Rule 4.3A Appendix 4E Preliminary Final Report Name of entity FARM PRIDE FOODS LTD ABN or equivalent company reference: 1. 42 080 590 030 Reporting period Report for the financial year ended 30 June...

Q:

The Questions: Write a summary on the different perspective the author speaks about management of ethics mentioned in the article with references. (500 words-5 Marks) Discuss Kohlbergs moral motives...

Q:

Using EES (or other) software, determine the fuel among CH4 (g), C2H2 (g), C2H6 (g), C3H8 (g), C8H18 () that gives the highest temperature when burned completely in an adiabatic constant-volume...

Q:

a) Find the interval on which the function is increasing and which it is decreasing. Sketch the graph where the function /(x)=x'-5x* +5x 1 n dy 30 dx 25+9t? 1 b) Solve the initial value problem where...

Q:

7 Multiple Choice 1 pointA company's current ratio decreased from 3 last year to 2 this year. One of the reasons is likely to be:Slower collection of accounts receivablesUsed cash to buy long - term...

Q:

A company issues a 5-year bond with a $7,500 discount. Using straight-line amortization, the company should: A) debit discount on bonds payable for $1,500 per year. B) credit discount on bonds...