ship, so accounting standards based on ‘decision-usefulness for investors’ are misconceived. And making the standards compulsory ‘Instructions’ rather than voluntary ‘Suggestions’ causes problems. What are your thoughts on this in rel

ship, so accounting standards based on ‘decision-usefulness for investors’ are misconceived. And making the standards compulsory ‘Instructions’ rather than voluntary ‘Suggestions’ causes problems. What are your thoughts on this in rel

Business/Professional Ethics Directors/Executives/Acct

8th Edition

ISBN:9781337485913

Author:BROOKS

Publisher:BROOKS

Chapter2: Ethics & Governance Scandals

Section: Chapter Questions

Problem 4Q

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The main purpose of company accounts is stewardship, so accounting standards based on ‘decision-usefulness for investors’ are misconceived. And making the standards compulsory ‘Instructions’ rather than voluntary ‘Suggestions’ causes problems. What are your thoughts on this in relation to PAS 1?

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