Rule-Based – NBC Institute

FR – Nov 2020 – L2 – Q5b – Regulatory Framework for Financial Reporting

Highlight the three basic steps necessary for developing a new accounting standard.

Question

International Financial Reporting Standards (IFRS) may either be premised on principle-based or rule-based concepts.

Required:

Highlight the three basic steps/processes necessary for developing a new accounting standard.

Answer

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Tags: IFRS, Principle-Based, Rule-Based
Level: Level 2

Topic: Regulatory Framework for Financial Reporting
Series: NOV 2020

FR – Nov 2020 – L2 – Q5a – Conceptual Framework for Financial Reporting

Explain the principle-based and rule-based approaches in accounting concepts.

Question

nternational Financial Reporting Standards (IFRS) may either be premised on principle-based or rule-based concepts.

Required:

(a) Explain the principle-based and rule-based concepts.

Answer

Find Related Questions by Tags, levels, etc.

Tags: IFRS, Principle-Based, Rule-Based
Level: Level 2

Topic: Conceptual Framework for Financial Reporting
Series: NOV 2020

FR – Nov 2020 – L2 – Q5b – Regulatory Framework for Financial Reporting

Highlight the three basic steps necessary for developing a new accounting standard.

Question

International Financial Reporting Standards (IFRS) may either be premised on principle-based or rule-based concepts.

Required:

Highlight the three basic steps/processes necessary for developing a new accounting standard.

Answer

Find Related Questions by Tags, levels, etc.

Tags: IFRS, Principle-Based, Rule-Based
Level: Level 2

Topic: Regulatory Framework for Financial Reporting
Series: NOV 2020

FR – Nov 2020 – L2 – Q5a – Conceptual Framework for Financial Reporting

Explain the principle-based and rule-based approaches in accounting concepts.

Question

nternational Financial Reporting Standards (IFRS) may either be premised on principle-based or rule-based concepts.

Required:

(a) Explain the principle-based and rule-based concepts.

Answer

Find Related Questions by Tags, levels, etc.

Tags: IFRS, Principle-Based, Rule-Based
Level: Level 2

Topic: Conceptual Framework for Financial Reporting
Series: NOV 2020

Question Tag: Rule-Based

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FR – Nov 2020 – L2 – Q5b – Regulatory Framework for Financial Reporting

Highlight the three basic steps necessary for developing a new accounting standard.

FR – Nov 2020 – L2 – Q5a – Conceptual Framework for Financial Reporting

Explain the principle-based and rule-based approaches in accounting concepts.

FR – Nov 2020 – L2 – Q5b – Regulatory Framework for Financial Reporting

Highlight the three basic steps necessary for developing a new accounting standard.

FR – Nov 2020 – L2 – Q5a – Conceptual Framework for Financial Reporting

Explain the principle-based and rule-based approaches in accounting concepts.

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Question Tag: Rule-Based

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FR – Nov 2020 – L2 – Q5b – Regulatory Framework for Financial Reporting

Highlight the three basic steps necessary for developing a new accounting standard.

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FR – Nov 2020 – L2 – Q5a – Conceptual Framework for Financial Reporting

Explain the principle-based and rule-based approaches in accounting concepts.

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FR – Nov 2020 – L2 – Q5b – Regulatory Framework for Financial Reporting

Highlight the three basic steps necessary for developing a new accounting standard.

You're reporting an error for "FR – Nov 2020 – L2 – Q5b – Regulatory Framework for Financial Reporting"

FR – Nov 2020 – L2 – Q5a – Conceptual Framework for Financial Reporting

Explain the principle-based and rule-based approaches in accounting concepts.

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