Lsquosubstance over form is a recipe for failing to achieve, Finance Basics

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Lsquosubstance over form is a recipe for failing to achieve

1. ‘Substance over form is a recipe for failing to achieve comparability between accounting statements for different businesses.' Discuss.

2. What various purposes might there be for accounting? Which purpose does the IASB particularly focus on?

3. ‘Neutrality is about freedom from bias. Prudence is a bias. It is not possible to embrace both conventions in one coherent framework.' Discuss.

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Finance Basics: Lsquosubstance over form is a recipe for failing to achieve

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