AASB elected not to adopt the IASB's approach to differential reporting because of the:
A) additional costs of training and education in preparing two sets of standards at professional and education level.
B) burden placed on some subsidiaries to prepare financial information based on the requirements of full IFRSs for the purposes of the parent entity consolidation.
C) loss of comparability across all types of Australian entities financial statements.
D) all the given answers.

Question

Quizplus · Accepted Answer

All of the given answers are reasons why AASB elected not to adopt the IASB's approach to differential reporting. The additional costs of training and education, burden of preparing different financial information for subsidiaries, and loss of comparability across entities' financial statements all played a role in AASB's decision.

AASB Elected Not to Adopt the IASB's Approach to Differential