Draft a proposal outlining an accounting standard on the following issue

Assume that you have been contracted by the Australian Accounting Standards
Board to develop a proposal regarding whether to issue an accounting
standard on accounting for the costs of environmental damage. Draft a
proposal outlining why you think it is appropriate, or
inappropriate, to develop an accounting standard on this issue. Also outline
the key issues that would need to be covered by the standard and how the
conceptual framework can contribute to resolution of those issues.

Answer preview:

Words:1,678