International v. US

Memorandum To:  From:  Date: 4-11-09 Re: Case 3-5 Discuss the popular opinion of relevance. In your opinion, would the amounts reported by U.S. companies for property, plant, and equipment be more or less pertinent than the current cost amounts reported by companies in England, Mexico, or elsewhere? Relevance Information is relevant when it influences the frugal decisions of users by helping them evaluate past, present, and future or by confirming or correcting their past evaluations. Relevance is similarly affected by materiality. Information has the quality of relevance when it is ` undetermined of devising a deviance in the stintingal decisions of users by helping them evaluate the effect of past and present events on future net cash inflows (predictive value) or confirm or correct previous evaluations(confirmatory value), even if it is non being used (FASB, 2005: 2; FASB 1980: 37). In the IASB manikin selective entropy has the quality of rele vance `when it influences the economic decisions of users by helping them evaluate past, present of future events or confirming, or correcting, their past evaluations (IASB, 1989: 24). Both examples thus say that accounting education is relevant if it has the capacity to make a divergence in a decision.

The FASB requires information to be capable of making a difference in the economic decisions of users `even if it is non being used. However, to be relevant the IASB definition additionally requires that information is used i.e. influences the decision maker in making economic decisions. Another small difference between the FASB and IAS B framework is the FASB framework explicitly! mentions that relevant information has to have predictive and feedback value, musical theme the IASB uses these terms implicit in its framework. `The predictive and confirmatory roles of information are interrelated (IASB,1989: 27). First, the FASB framework defines timeliness an ancillary cheek of relevance. Information... If you want to shit a full essay, order it on our website: BestEssayCheap.com

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