In a speech in Paris, Hans Hoogervorst, Chair, IASB, referred to historical cost accounting as “a very primitive measurement basis that provides information that very quickly becomes outdated”. Do you agree?Discuss

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QUESTION 1 (1000 WORDS)

In a speech in Paris, Hans Hoogervorst, Chair, IASB, referred to historical cost

accounting as “a very primitive measurement basis that provides information that very quickly becomes outdated”. Do you agree? In your discussion, weigh up the

advantages and disadvantages of historical cost accounting relative to alternative

approaches.

QUESTION 2 (1000 WORDS)

a. What is the difference between primary and secondary stakeholders?

b. Do you consider customers to be a primary stakeholder for the majority of companies? Explain the reasons for your answer.

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