Question
Explain how rule based accounting standards differ from principle-based standards. How might fundamentally changing accounting standards from bright-line rules to principle-based standards help prevent another
Explain how "rule based" accounting standards differ from "principle-based" standards. How might fundamentally changing accounting standards from "bright-line" rules to principle-based standards help prevent another Enron-like fiasco in the future?
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Accounting Volume 2
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
2nd Canadian edition
176501452, 978-0176501457, 978-0176509743
