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Briefly explain any two challenges faced by the accounting profession and reporting entities with regard to the application of current international accounting standards on financial...

      

Briefly explain any two challenges faced by the accounting profession and reporting entities with regard to the application of current international accounting standards on financial instruments.

  

Answers


Martin
Two challenges facing the accounting profession and reporting entities with regard to the application of current international accounting standards on financial instruments

(i) The standards are very complex in interpretation and application especially on derivatives.

(ii) Some of the recommendations may be difficult to apply such as fair value and of amortized cost.
marto answered the question on February 13, 2019 at 08:36


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