Which of the following does not describe a step in the AcSB's standard setting process?
A)Issue an emerging Issues Abstract
B)Develop an Exposure Draft
C)Write a project proposal
D)Develop a Re-exposure Draft.

Question

Quizplus · Accepted Answer

The AcSB's standard setting process includes developing a project proposal, conducting research and analysis, issuing an Exposure Draft for public comment, considering feedback received, developing a Re-exposure Draft (if needed), and ultimately issuing a final standard. However, issuing an Emerging Issues Abstract is not part of the standard setting process, but rather a way to identify emerging accounting issues that may require the AcSB's attention in the future.

Which of the Following Does Not Describe a Step in the AcSB's