You have come a long way since starting this project, and you should be very proud to be to this point. However, you still have a few more things to do. For this week's discussion, the leadership from all company departments would like you to answer 1 more question concerning your outlook on the company.

Leadership explains that there are a number of issues with the proposed new position. The previous controller used an aggressive approach when implementing and applying accounting standards. This proved detrimental to the company on several occasions.

• What are your thoughts on these practices, and how would you approach the implementation and application of new accounting standards?