    Sentence ‘1: However, some participants  cautioned . that’ principlé-based’ standards.  should not be. viewed as a panacea to-solve.  the: problems with financial.‘reporting and  could ‘lead’ ‘to. .an “undesirable. situation  iwhere you.would not have comparability or  agreement as to. the traiatment Of: similar  transactions.         ‘Sentence: 2: some participants: cautioned  that principle-based. standards should” be  viewed as a panacea to solve the. probléms         