The FASB and IASB both state that relevance and faithful representation are crucial concepts for financial reporting.

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The FASB and IASB both state that relevance and faithful representation are crucial concepts for financial reporting. Why are these concepts so important?

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Introduction to Management Accounting

ISBN: 978-0133058789

16th edition

Authors: Charles Horngren, Gary Sundem, Jeff Schatzberg, Dave Burgsta

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Question Posted: Nov 19, 2014 07:06 AM

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The FASB and IASB both state that relevance and faithful representation are crucial concepts for financial reporting.

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Relevance means the information makes a difference to the decision maker If ...View the full answer

Introduction to Management Accounting

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