Hans Hoogervorst
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Write a report to Hans Hoogervorst, the IASB Chairman, outlining one change you would like to make to the Conceptual Framework.
Your answer should include:
– Clear structure incorporating all the elements from the instructions
– Discussion of the conceptual framework and its role and purpose in financial accounting
– A critical evaluation of the existing conceptual framework leading to the change you are recommending
– Identify and discuss one change you would like to recommend and explain why with reference to relevant examples
– A critical analysis of any drawbacks that might result from your recommendation
– Discussion of the impact the change you recommend will have on practice of financial accounting
You should focus on the following Learning objectives:
1. Critically evaluate alternative theories of income measurement as a normative
guide to price level accounting, income measurement and asset valuation
2. Apply and critically evaluate alternative methods for accounting for the
transaction of companies
