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How do the new standards affect accounting professions

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Reference no: EM133004320

Question - Choose one of the newly issued or updated financial accounting and reporting standards that were made after the year 2010 and discuss the following.

Summarize major changes and compare them with the old standards critically. Your answers must include the intention/goal of the new standards and your opinion on the new standards (e.g., do you agree to the direction of the new standards? Do you think the new standards will achieve the goal? etc.)

How do the new standards affect accounting professions such as i) financial statement preparers, ii) auditors, iii) investors and/or creditors, and iv) accounting standard setters or regulators?

Reference no: EM133004320

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