Question: Instruction: -Read the following statement below and provide your answer each item. -Include reference in all your answer. 1. list 5 updates in financial reporting

Instruction:

-Read the following statement below and provide your answer each item.

-Include reference in all your answer.

1. list 5 updates in financial reporting standards.

2. explain the implication of listed amendments in financial reporting standards.

3. explain the importance of accounting standards being revised/amend every now and then.

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