During "Module 1-Measurement", we have discussed/reviewed/questioned the history (development) of income measurement from historic cost to Fair Value Accounting (FVA). We have come to understand that the world is fraught with uncertainty. Conceptual Framework, various income generating models, IASB, FASB....and on and on!!!! Discuss the current environment and how you believe the Standard Setters and Professional Accountants have adapted to this rapid (R)evolution