Use the Following Chart to Explain the Difference in Accounting

question 43

Essay

Use the following chart to explain the difference in accounting between IAS 39 and IFRS 9 for non-strategic financial assets

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Definitions:

Idiographic

An approach focusing on the individual, emphasizing personal, unique features and differences rather than generalizing across a population.

Theoretical

Based on or using the ideas and abstract principles underlying a subject, rather than its practical aspects.

Medical Animal Research

The use of animals in scientific studies aimed at understanding health and disease processes, as well as testing the safety and efficacy of medical treatments.

External Validity

The degree to which a study's findings can be applied to other contexts and different individuals.