Title: A critical review of the effect of accounting for financial instruments on the accounting framework : research article
Abstract: The main objective of an accounting framework is to create principles upon which standard-setters can base their accounting standards. The effect of accounting for financial instruments by valuing the risks included in contracts from the inception thereof has placed pressure on the underlying accounting framework. This article demonstrates that material amendments are required to bring the International Accounting Standards Board (IASB) Framework in line with accounting principles created by the accounting standards on financial instruments. This article also identifies pertinent issues that should be addressed in the joint framework project of the IASB and the Financial Accounting Standards Board (FASB).
Publication Year: 2006
Publication Date: 2006-12-01
Language: en
Type: review
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Cited By Count: 4
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