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IASB member discusses principle-based accounting

  • IASB (International Accounting Standards Board) (blue) Image

21 Jun 2016

In an article published by Compliance Week, IASB member Gary Kabureck discusses keys to a successful principle-based approach.

Mr Kabureck focused on the following key aspects:

  • The importance of a robust conceptual framework.
  • An understanding that rules will not be able to cover all situations.
  • Use of reasonable judgement in the decision making process.
  • Comparability in the application in accounting rules and the benefit to primary users of financial statements.

For more information, see the article on the IASB’s Web site.

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