International accounting standards currently are moving toward the

Question

Quizplus · Accepted Answer

The current trend in international accounting standards is to adopt the comprehensive recognition approach, which means that all assets and liabilities should be recognized, measured and reported in the financial statements regardless of whether there is a future inflow or outflow of resources or not. This approach ensures transparency and comparability in financial reporting across different countries and companies. The other options - no-deferral approach, partial recognition approach, and discounted comprehensive recognition approach - are not the current trend in international accounting standards.

International Accounting Standards Currently Are Moving Toward the