Briefly describe the role of conceptual frameworks

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Problem

A review of existing conceptual frameworks [...] indicates that conceptual frameworks provide a perspective that accounting can, if performed properly, provide an objective (neutral and representationally faithful) view of the performance and position of a reporting entity" (Deegan and Unerman 2006p. 227).

1. Briefly describe the role of conceptual frameworks for financial accounting.

2. Is accounting objective and neutral? Discuss the above quote drawing upon the module material and seminar readings.

Reference no: EM131970744

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