a) You have studied principle based and rule-based accounting. Consider the pros and cons of each. Compare and contrast the two. Support your statements with reasons and references to scholarly literature.
b) Research the transition from rule-based accounting to principle-based accounting.
Research theoretical discussions and summarize the current positions on the issue.
Find two examples where the transition is occurring at present.
Choose an industry where the transition is complete. Describe and explain the effects of the changes on the industry.
Explain how principle-based accounting will facilitate the development of uniform accounting standards worldwide.
Develop a five to seven-slide PowerPoint. Write a detailed analysis including citation in speaker notes.