Under IFRS, financial statements are prepared on a modified cost basis, with an emphasis on fair value, which is more useful and relevant for users' decision-making purposes. Businesses may choose one of four recording methods that best reflects their economic activities and reality.
List the four approaches.

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The Answer of Under IFRS, financial statements are prepared on a modified cost basis, with an emphasis on fair value, which is more useful and relevant for users' decision-making purposes. Businesses may choose one of four recording methods that best reflects their economic activities and reality.
List the four approaches.

Under IFRS, Financial Statements Are Prepared on a Modified Cost