Proposed Financial Statement Changes: Reactions To The FASB-IASB Discussion Paper
<p class="MsoNormal" style="text-align: justify; line-height: normal; margin: 0in 0.5in 0pt;"><span style="font-family: "Times New Roman","serif"; color: black; font-size: 10pt; mso-themecolor: text1;">The purpose of this study was to obtain the opinions of future users of the financial statements: current undergraduate and graduate students in accounting and academia.<span style="mso-spacerun: yes;"> </span>We found that the students show greater agreement with the proposed model than do the CPA’s.<span style="mso-spacerun: yes;"> </span>In addition, we found that academia, as represented by the Financial Accounting Standards Committee of the American Accounting Association has a number of concerns regarding timing, user learning issues and impediments to learning, objectives and terminology and categorizing activities and assets and liabilities.</span></p>