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Assuming that the International Accounting Standards Board (IASB) is considering revising an important accounting standard. Discuss and explain the desired benefit from revising an accounting

Assuming that the International Accounting Standards Board (IASB) is considering revising an important accounting standard.

Discuss and explain the desired benefit from revising an accounting standard, and some of the possible costs that could result from a revision of an accounting standard and discuss what the IASB will do in order to assess possible benefits and costs of a proposed revision of an accounting standard

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