EFFECTS OF FAIR VALUE ACCOUNTING ON USERS OF FINANCIAL STATEMENT
CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY This statement says things are not always as they seem at first sight and that good things (fair) can sometimes turn out to be bad (foul) and vice versa (Shakespear). Also centuries later, the statement is still valid when it is transferred to the recent developments in financial accounting. According to this, the basic shift from local GAAP accounting systems to the ...
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