The MASB's primary role is to develop accounting and financial reporting standards. It is the MASB's operating procedure that generally precludes the MASB or its staff from giving advice to any individuals or corporations on specific cases and from acting as an arbitrator. Entities should address matters concerning the application of the accounting standards with their respective independent accountants, or auditors.
The MASB's limited resources also prevent it from responding to students' individual requests for help in completing their assignments.
The answers to the following questions have been prepared by the MASB staff and are intended to support the consistent application of requirements in the MASB Standards, and do not necessarily reflect the Board’s view.