IFRS expert David Cairns provides
a round-up of the key changes in international accounting standards
and developments at the IASB
Measurement myths
In a recent speech, IASB chairman Hans Hoogervorst repeated
the myth that International Financial Reporting Standards (IFRS) currently
use about 20 different measurement methods. These mythical 20 methods
confuse concepts (measurement bases) with the practical expedients
needed to apply those concepts to different assets and liabilities
and in different circumstances.
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