Rule base and principle based approach

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    demmybaba
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    “It does not follow … that the preparation of financial statements can now be reduced to a mechanistic process of following the relevant standards without the application of objective professional judgement applied to ensure that those statements give a true and fair view, or achieve a fair presentation.”
    Martin Moore
    Discuss whether you agree with the statement made by Martin Moore.


    Avatar of MikeLittle
    MikeLittle
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    Are you asking ME? This sounds like an exercise for you!


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    demmybaba
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    Yes. It is a write up I was given to explain and I need some clue on how to go about it.


    Avatar of MikeLittle
    MikeLittle
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    Cheeky!

    I think I would include within my response, in no particular order, matters such as

    many and varied stakeholders
    different aspirations
    no longer simply a matter of financial reporting of historical data
    profit is nowadays not seen as the only reason for a company’s existence
    servers of society’s needs
    Gray, Owen and Adams
    pristine capitalists through to committed ecologists
    duty of care to society
    in the capacity as a corporate citizen
    social reform and acceptance
    environmental reporting

    There, there are some ideas to trigger your own

    Hope that helps, but any other students with any other assignments …..please do NOT expect me to respond!

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