Research Provider you can trust
TODAY and TOMORROW!
Service Features
  • 275 words per page
  • Font: 12 point Courier New
  • Double line spacing
  • Free unlimited paper revisions
  • Free bibliography
  • Any citation style
  • No delivery charges
  • SMS alert on paper done
  • No plagiarism
  • Direct paper download
  • Original and creative work
  • Researched any subject
  • 24/7 customer support

Difference between rules-based and principles-based accounting standards

Title: Difference between rules-based and principles-based accounting standards
Category: /Science & Technology/Transportation
Details: Words: 787 | Pages: 3 (approximately 235 words/page)
Difference between rules-based and principles-based accounting standards
(A) Rules-based accounting standard Rule-based systems are fairly simplistic, consisting of little more than a set of if-then statements, but provide the basis for so-called "expert systems" which are widely used in many fields. The concept of an expert system is this: the knowledge of an expert is encoded into the rule set. When exposed to the same data, the expert system AI will perform in a similar manner to the expert. Rule-based systems are …showed first 75 words of 787 total…
You are viewing only a small portion of the paper.
Please login or register to access the full copy.
…showed last 75 words of 787 total…bright-line rules. (2)<Tab/>Principles-based accounting implies that the information should be relevant, reliable, and comparable across reporting periods and entities. If the only requirements were that information be relevant and reliable, entities would adopt reporting methods to best reflect the economic realities for their particular entity. But this would make comparison between companies and across reporting periods virtually impossible for investors.<Tab/><Tab/>

Need a custom written paper?