Effective Writing 10th Edition by Claire May,Gordon May

Exercise 7

Some people would argue that historical costs should no longer be used in accounting because they are not relevant. Others argue that departing from historical cost introduces too much subjectivity into accounting. Write out a detailed outline for a presentation to your class providing a defense of both points of view and then explain why the FASB has chosen to depart from historical cost in many of its accounting standards.
To prepare for this assignment, you may wish to review Chapter 15 on Oral Presentations.