Current Development in Accounting Thought

This document discusses the current development in accounting thought, focusing on an accounting issue related to the International Monetary Fund forecasting a sluggish global economy. It explores the impact of global trade tensions and uncertainty on the world economy, particularly the United States and China. The document also covers the IASB exposure draft proposing amendments to IFRS 9 and IAS 39, addressing issues related to cash flow hedging and fair value hedging. Overall, it provides insights into the current state of accounting thought and its implications.