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Some practitioners and academics say that the updated version of the Conceptual Framework issued by the IASB in March 2018 was a disappointment and that it left things “up in the air”. What do you...

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Some practitioners and academics say that the updated version of the Conceptual Framework issued by the IASB in March 2018 was a disappointment and that it left things “up in the air”. What do you think these people may be referring to and what is your opinion of the new framework? In your analysis and thinking you will need to include a good summary of what changed and what did not change in the new revision and whether you agree with the changes and why.
Answered Same Day Aug 05, 2020

Solution

Sarabjeet answered on Aug 06 2020
132 Votes
Conceptual Framework
Conceptual Framework     August 5    2018    
Student Name    University Name    Unit Name    Unit Code    
Contents
Conceptual Framework issued by the IASB in March 2018    2
What change    2
Main changes    3
What didn’t change?    4
References    5
Conceptual Framework issued by the IASB in March 2018
Practitioners and academics say that the updated version of the conceptual framework issued by the International Accounting Standards Board in March 2018 is disappointing, and it makes things “unresolved”. I think this may be because the future of international accounting standards for US-listed companies is still The 127-page report issued by the US Securities and Exchange Commission in the United States on the last day of the term of Chief Accountant James Kroeker, which issued a long-term expectation, said that the global financial reporting community believes that the International Accounting Standards Board (IASB) The quality of the standard developed is high, despite the need for further expansion of the field.
Some practitioners and academics say that the updated version of the Conceptual Framework issued by the IASB in March 2018 was a disappointment and that it left things “up in the air”. This is because some believe that the US Securities and Exchange Commission continue to hesitate to IFRS so that the United States is isolated and restricts US companies from acquiring globe capital. Michelle Prada, the chairman of IFRS Foundation Trustee, issued a report expressing disappointments with the lack of a clear IFRS action plan in the statement....
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