Intermediate Accounting 14th Edition

Published by Wiley
ISBN 10: 0470587237
ISBN 13: 978-0-47058-723-2

Chapter 1 - Financial Accounting and Accounting Standards - Concepts for Analysis - Instructions - Page 30: CA1-20c

Answer

Economic results showed in the letter are: (1) concerns identified with the potential effect on the capital markets, and the unfavorable control ramifications of actualizing expensive and complex new standards forced in the same time as other significant activities, including the Year 2000 issues and a single European currency.

Work Step by Step

The dilution of organizations' capacity to contain risk is also exposed as an economic consequence.
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