1. The FASB’s Statement of Financial Accounting Concepts No. 8 (2010) and the IASB Conceptual Framework for Financial Reporting (2010) both removed “conservatism” (“prudence”) as a qualitative characteristic of useful financial information. Explain why this change was made in 2010, and use the work of Cooper (2015), to explain why “prudence” (“conservatism”) was restored within […]
Tag: IASB
Discuss how the concepts of materiality would be used in applying the International Integrated Reporting Framework.
After graduating from a Master of Commerce from Deakin Business School, you applied to work at the Melbourne office of Big Phore Partners (BpP) and took a role as an Analyst within the Corporate Advisory Group. During your weekly workflow meeting, your manager commented that she attended a business breakfast this morning, and learned that […]