'However at the Current (Most Recent)stage the IAS Approach Can

question 24

Essay

'However at the current (most recent)stage the IAS approach can be described as a mixed valuation approach with fair value accounting sometimes defined as current market entry cost prices but also historic cost,selling prices and discounted future cash flows' J.Godfrey,et el,'Accounting Theory',7^th Ed.p.206.
Explain and discuss the above statement.

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