Explain how “rules-based” accounting standards differ from “principles-based” standards.

Explain how “rules-based” accounting standards differ from “principles-based” standards. How might fundamentally changing accounting standards from bright-line rules to principle-based standards help prevent another Enron-like fiasco in the future? Are there dangers in removing bright line rules? What difficulties might be associated with such a change?

“Get 15% discount on your first 3 orders with us”
Use the following coupon
FIRST15

Order Now