This paper concentrates on the primary theme of 1.- Why many argue that historical costs should no longer be used in accounting because they are not relevant? 2.- Why many other argue that departing from historical cost introduces too much subjectivity into accounting? in which you have to explain and evaluate its intricate aspects in detail. In addition to this, this paper has been reviewed and purchased by most of the students hence; it has been rated 4.8 points on the scale of 5 points. Besides, the price of this paper starts from £ 79. For more details and full access to the paper, please refer to the site.
Historical versus Current Fair Market Valuation
1.- Why many argue that historical costs should no longer be used in accounting because they are not relevant?
2.- Why many other argue that departing from historical cost introduces too much subjectivity into accounting?
EXPLAIN THE 2 ANSWERS AND PROVIDE A DEFENSE OF BOTH POINTS OF VIEW
and then explain why FASB chose to depart from historical costs in many of its recent SFASs.
It is not necessary to write an essay, just explain the two questions, and then explain why FASB chose to depart from historical costs in many of its recent SFASs in 1 PAGE OR MORE.