Differential reporting for small entities and large entities will result in the following:
A)additional costs of training and education in preparing two sets of standards at professional and education level.
B)burden placed on some subsidiaries to prepare financial information based on the requirements of full IFRSs for the purposes of the parent entity consolidation.
C)loss of comparability across all types of entities financial statements.
D)all the given answers.

Question

Quizplus · Accepted Answer

Differential reporting can lead to additional costs for training, a burden on subsidiaries for consolidation purposes, and a loss of comparability across financial statements of different entities.

Differential Reporting for Small Entities and Large Entities Will Result