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The website of the FASB (as at early 2009) states that FASB intends:
To promulgate standards only when the expected benefits exceed the perceived costs. While reliable, quantitative cost-benefit calculations are seldom possible, the Board strives to determine that a proposed standard will meet a significant need and that the costs it imposes, compared with possible alternatives; are justified in relation to the overall benefits.
Do u think that cost benefit considerations will be different in different countries? If so how would cost-benefit considerations be determined by a global accounting standard setter as the IASB?
Evaluate the argument for and against? Which argument do you consider more compelling ? Write in 1000 words on accounting based.
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Based on your readings, do you agree with the notion of value costing for the 21st Century organizations. Why or Why Not?
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In May of 2009, Raymond Financial Services became involved in a penalty dispute with the EPA. At December 31, 2009, the environmental attorney for Raymond indicated that an unfavorable outcome to the dispute was probable.
Prepare the following using any required worksheets, general and or adjusting journal enries, T-accounts, and trial balance per pg 212 style.
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