The IASB and the FASB are proposing better ways to present information for businesses in the statement of financial position, including the separation of assets and liabilities into operating and investing categories.

Question

Quizplus · Accepted Answer

The IASB (International Accounting Standards Board) and the FASB (Financial Accounting Standards Board) have been working on improving financial statement presentation, including categorizing assets and liabilities to enhance clarity and usefulness for users.

The IASB and the FASB Are Proposing Better Ways to Present