Question
In ASU 2014-09, pages 7-8, FASB asserts that its new guidance on revenue recognition is principles based whereas prior standards in this area followed a
In ASU 2014-09, pages 7-8, FASB asserts that its new guidance on revenue recognition is principles based whereas prior standards in this area followed a rules based approach.
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Explain why you consider that ASU 2014-09 is principles based.
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Provide a counter-argument that the standard is not entirely principles based.
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Practical Audit Quality Improvement Ensuring Effective Performance Of Internal Audit Functions
Authors: Joyce Gacheru
1st Edition
6138950577, 978-6138950578
