Are the the information needs for private company stakeholders different from those of public companies, such that the accounting standards should be different?
Both the FASB and the IASB are under pressure to prioritize and streamline accounting disclosures due to perceived disclosure overload. How would you determine which disclosures are absolutely necessary and which ones could be eliminated?
Why do you think firms may be inclined to “over-disclose” in their notes to the financial statements?
Do you believe that the location of lease disclosures (on-balance-sheet versus off-balance-sheet) and the timing of the effects on income will result in the loss of 60,000 jobs? Why or why not?
How did the name-change from “Loan” to “Investment” satisfy the Shariah committee? For accounting purposes, does changing the name (and the classification) change the nature of the earnings on the underlying asset?
