The Future Accounting/Reporting and Audit Reporting Model

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The Future Accounting/Reporting and Audit Reporting Model

  • We need to review and revise the existing accounting/reporting model to reflect several dimensions:

    • Generic provisions
    • Industry information
    • Entity-specific information (i.e., value and risk)

  • We need to recognize the difference between certain types of financial and other information:

    • Historical cost
    • Readily marketable assets
    • Non-readily marketable assets
    • Projection information
    • Performance information