Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. in establishing financial accounting standards, tw

In establishing financial accounting standards, two basic premises of the IASB are (1) The IASB...

60.1K

Verified Solution

Question

Accounting

  1. In establishing financial accounting standards, two basic premises of the IASB are (1) The IASB should be responsive to the needs and viewpoints of the entire economic community, not just the accounting profession. (2) It should operate in full view of the public through a "due process" system that gives interested persons ample opportunity to make their views known. To ensure achievement of these goals, what are the steps does the IASB follow in the development of a typical IFRS?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students