Question: Need help with below please, how did the differences between rules-based and principle-based standards influence the debate and ultimately the final revenue recognition accounting standard

Need help with below please,

how did the differences between rules-based and principle-based standards influence the debate and ultimately the final revenue recognition accounting standard issued by both standard-setters?

Is either standard-setter still working on the implementation of the converged revenue recognition accounting standard? If so, what are 1 or 2 of the key implementation matters which are still being developed with regards to the new standard?

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