Accounting History

Classify the three phases in the life of the IASC

- a. b. c.	1973-1988
- a. b. c.	1988-1993
- a. b. c.	1993-2001

a.	lowest common denominator approach to standard setting
b.	reduction of existing options in IASs through the Comparability of Financial Statements Project
c.	development of core set of standards under the IOSCO Agreement

Expert Solution

Following the history of the formation and evolution of IASB, the following questions have been answered.

(a) 1973 - 1988: lowest common denominator approach to standard-setting

(b) 1988 - 1993: reduction of existing options in IASs through the Comparability of Financial Statements Project

(c) 1993 - 2001: development of a core set of standards under the IOSCO Agreement

1973-1988: A

1988-1993: B

1993-2001: C

Soumik Mallick Choudhury answered 2 years ago

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Accounting History

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