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Discuss the Motivation of Standard Setters in Releasing AASB 7

question 29

Essay

Discuss the motivation of standard setters in releasing AASB 7 Financial Instruments:
Disclosure and discuss how this standard differs from AASB 132 Financial Instruments:
Presentation.


Definitions:

Persuasion

The act of convincing someone to do something or to believe in something through reasoning or argument.

Persuasion

The act or process of convincing someone to do or believe something through reasoning or argument.

Social Influence

The effect that the words, actions, or mere presence of other people have on our thoughts, feelings, attitudes, or behavior.

Cognitive Dissonance

A psychological phenomenon where an individual experiences discomfort resulting from conflicting beliefs, behaviors, or attitudes.

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