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Basic Question 3 of 6

Which of the following represents IASB's approach to setting new financial reporting standards?

A. Principles-based approach
B. Rules-based approach
C. A mix of both approaches, depending on the account

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I passed! I did not get a chance to tell you before the exam - but your site was excellent. I will definitely take it next year for Level II.
Tamara Schultz

Tamara Schultz

Learning Outcome Statements

describe implications for financial analysis of alternative financial reporting systems and the importance of monitoring developments in financial reporting standards

CFA® 2024 Level I Curriculum, Volume 2, Module 1.