International Accounting Standards Board | Online Assignment Help
Continue from previous assignment about profit maximization (order id 503605), is it possible the same writer to answer below question? The role of the International Accounting Standards Board (IASB) as a regulator is pivotal in the large scale convergence debate. In a speech, Sir David Tweedie, the then Chairman of the IASB stated that: ‘“The life blood” of capital markets is financial information that is: 1 Comparable from company to company; 2 Relevant to investment financing decisions; 3 A faithful depiction of economic reality; and 4 Neutral, favouring neither supplier nor user of capital, neither buyer nor seller of securities.’ An interesting question might be to what extent does the current financial reporting environment meet the above criteria, with respect to the 4 points raised by Tweedie above? Certainly writers like Hasso and Duncan (2013) consider that financial accounting information does have limitations, but overall it is perhaps better to have this information than something less reliable and also would it be wise for management accounting information to be in the public domain? Any thoughts?