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During global financial crisis of 2008/9, it was claimed that IFRS fair value accounting techniques...

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Accounting

During global financial crisis of 2008/9, it was claimed that IFRS fair value accounting techniques used in corporate reports had distorted financial reality and caused financial crisis. In the event of a major economic downturn in 2020 or later, do you think assets will be appropriately measured by IFRS fair value accounting standards? Explain. 400 words

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