In an article for the International Journal of Accounting, Auditing and Performance Evaluation, the scholars Axel Haller and Maria Scholssgang maintained that:

In an article for the International Journal of Accounting, Auditing and Performance Evaluation, the scholars Axel Haller and Maria Scholssgang maintained that:

“According to the Framework of the IASB, profit is a frequently used measure of an

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entity’s performance. Yet in developing its standards, the IASB has not paid much

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attention to the presentation of profit, but primarily concentrated on recognition and

measurement requirements. As a consequence, the International (Accounting) Financial

Reporting Standards (IAS/IFRS) do not provide a sound conceptual basis for the

presentation of income and expenses.”

Do you agree or disagree with their assessment? Why? (Please limit your response to 200 words or less)

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