[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-30194":3,"doc-seo-30194":21},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"file_id":15,"file_url":16,"file_type":17,"file_size":18,"view_count":4,"is_deleted":4,"is_public":19,"is_downloadable":19,"audit_status":19,"update_tm":20},30194,687197207057,"Sage","https://ap-avatar.wpscdn.com/davatar_29158cc5080c5b710cf443261637dec0",8,"Research & Report","MASB 2504 Chapter 2 The regulatory framework mid term 4","This document details the regulatory framework for accounting standards, focusing on the role of the International Financial Reporting Standards Foundation (IFRSF) and the International Accounting Standards Board (IASB). It explains the evolution from International Accounting Standards (IAS) to International Financial Reporting Standards (IFRS), the creation of the IASB in 2001 to supersede the IASC, and the gradual replacement of IAS with IFRS, with IFRS taking precedence in case of conflict. The document outlines the standard-setting process, which involves a Consultative Group, the Board, a Steering Committee, a Discussion document, an Exposure draft, and finally, IFRS approval, requiring 8 Board members' endorsement at the exposure draft and finalization stages. It also touches upon the four key areas of focus for accounting standards: Recognition, Measurement, Presentation, and Disclosure. The syllabus learning outcomes covered include understanding the roles of the IFRS Foundation, IASB, IFRS Advisory Council (IFRSAC), and IFRS Interpretations Committee (IFRSIC), as well as the purpose and importance of International Financial Reporting Standards (IFRS) themselves. Key concepts discussed include the difference between occupation and profession, law and regulation/standard, and the purpose of professional working standards issued by independent international organizations to monitor work quality. The numerical distinction in standards issued, with IASC issuing IAS 1 through IAS 41, and IASB issuing IFRS 1 through IFRS 16, is also highlighted.","cbCaioT1lILmCAoe","https://ap.wps.com/l/cbCaioT1lILmCAoe","pdf",761164,1,1778286013,{"code":4,"msg":22,"data":23},"ok",{"site_id":24,"language":25,"slug":26,"title":13,"keywords":27,"description":14,"schema_data":28,"social_meta":62,"head_meta":64,"extra_data":66,"updated_unix":20},105,"en","masb-2504-chapter-2-the-regulatory-framework-mid-term-4","",{"@graph":29,"@context":61},[30,47],{"@type":31,"itemListElement":32},"BreadcrumbList",[33,37,41,44],{"item":34,"name":35,"@type":36,"position":19},"https://docshare.wps.com","Home","ListItem",{"item":38,"name":39,"@type":36,"position":40},"https://docshare.wps.com/document/","Document",2,{"item":42,"name":12,"@type":36,"position":43},"https://docshare.wps.com/document/research-report/",3,{"item":45,"name":13,"@type":36,"position":46},"https://docshare.wps.com/document/masb-2504-chapter-2-the-regulatory-framework-mid-term-4/30194",4,{"url":45,"name":13,"@type":48,"author":49,"headline":13,"publisher":51,"fileFormat":54,"description":14,"dateModified":55,"datePublished":55,"encodingFormat":54,"isAccessibleForFree":56,"interactionStatistic":57},"DigitalDocument",{"name":9,"@type":50},"Person",{"url":34,"name":52,"@type":53},"DocShare","Organization","application/pdf","2026-05-09",true,{"@type":58,"interactionType":59,"userInteractionCount":4},"InteractionCounter",{"@type":60},"ViewAction","https://schema.org",{"og:url":45,"og:type":63,"og:title":13,"og:site_name":52,"og:description":14},"article",{"robots":65,"canonical":45},"index,follow",{"doc_id":7,"site_id":24}]