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The essay series is "designed to provide an avenue for a wide range of financial reporting issues to be discussed and for ideas to be raised to stimulate debate and provide thought leadership in accounting standard-setting" but does not necessarily represent the views of the AASB.
The essay contends that much of the debate in the history of accounting standards has predominantly focused on recognition and measurement issues, and more recently also seen as a rise in the importance of business models in the development of accounting standards.
As a result, the paper argues, the current disclosure regime "might be characterised as largely Although the essay was originally intended to contribute towards discerning the principles for disclosure and presentation, it instead concludes that the focal point of conceptual frameworks "should be the identification of the characteristics of entities with which users would need to be concerned in order to make decisions about allocating scarce resources".
It goes on to say: The essay does not decry information about the amount, timing and uncertainty of such flows.
Rather, it calls for identification of the generic characteristics of entities that will enable users to understand the significance of that information at understandable levels of aggregation and classification.
It notes what Mr Stevenson considers "unstated or undeveloped principles" in presentation and disclosure and "unproductive arguments between competing and incompatible ideas" results in "excessive and inconsistent disclosure requirements".
In accounting terms, we have seen the various attempts to define profit, operating profit, comprehensive income and many variants thereof. The essay contends that, among other consequences, purpose-driven disclosure and presentational approaches could flow from attempts to faithfully represent This would result in a substantial rationalisation of existing disclosures and provide a way of cutting through the unending debates about presentation that stem from multiple implicit conflicting goals.
The author is of the view that the implications This will prove not to be a simple task as the principles underlying those requirements are often unclearly stated or not stated at all.STEP 5: PESTEL/ PEST Analysis of Kevin Stevenson Retires As Aasb Chair Case Solution: Pest analyses is a widely used tool to analyze the Political, Economic, Socio-cultural, Technological, Environmental and legal situations which can provide great and new opportunities to the company as well as these factors can also threat the .
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The essay, AASB Essay Rethinking the Path from an Objective of Economic Decision Making to a Disclosure and Presentation Framework, was principally authored by Kevin Stevenson (AASB Chair) and represents the first in series intended to be produced by the recently formed AASB Research Centre.
The essay series is . As the Chair and Chief Executive Officer of the AASB, Kevin Stevenson provides high profile leadership for the Australian and international accounting profession using his encyclopaedic knowledge of, and experience in, the accounting standards setting process combined with a commitment to achieving financial truth in the public interest.
The Australian Government has announced the appointment of Ms Kris Peach as the full time Chair of the Australian Accounting Standards Board from 3 November for a five year term. The Australian Accounting Standards Board is the Commonwealth statutory body responsible for setting accounting standards for companies, not-for .
This article is concerned with the accomplishments and achievements of Kevin Stevenson upon his retirement as the Chairman of the Australian Accounting Standards Board on 30th June