Question

Summarize Morrison’s, Sorter’s, and Sterling’s concerns about ASOBAT.

Answer 1

Morrison's Concerns:

It didnot include a body of principles, he disagreed with the emphasis on current cost, he disagreed with the inclusion of a managerial chapter, he also disagreed with the inclusion of research topics.

Sorter's Concerns:

He was concerned that ASOBAT assumed they knew the needs of users and could specify accounting information to meet those needs . He believed that accountants did not know these needs well enough to specify them.

Sterling's Concerns:

He did not know which methodology was used to produce ASOBAT. He was also concerned with ASOBAT's world view and believed the support for current cost was weak.