1.Explain the main reasons why IASB issued the new or revised standard [Hint: You could look for journal articles on this subject]. 

2. Compare the standard with the conceptual framework and evaluate whether the changes have led to greater or less consistency with the framework [Hint: You could consider issues like definitions]

 

3. Discuss some of the challenges and implications of adopting the new standard. Consider this from a global perspective as well as a Pacific perspective [Hint: You could look at relevant internet sites and forums, seek opinions from practicing accountants etc].