Provide information that is useful for decision making

Enable International Accounting Standards Board (IASB) to issue more useful and consistent pronouncements

Enhance and organization’s financial consistency over time as Board members change

To classify an organization’s stakeholders as either internal or external information users

Predictive value

Complete

Faithful representation

Relevance

Faithful representation

Measurement

Full disclosure

Going concern

The employer must assume risk for the plan

Contributions must be discounted

Contributions must not be discounted

The employer must pay a specified amount to the employee

Its fair value at the date of revaluation less accumulated impairment

Its fair value at the date of revaluation less accumulated depreciation

Its fair value, less retained earnings

Its fair value at the date of revaluation less accumulated depreciation and accumulated impairment

Create equity across the economies of different countries

Reduce the number of cross-border capital flows

Greater comparability between companies equals lower cost to investors

Less competition among exchanges