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Discuss whether the directors suggestion is acceptable

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NOROCON bhd. is a highly successful company established a decade ago and it has a highly skilled and competent workforce. The directors recognized that the employees are the drivers of the company's success. Hence, the directors had suggested to recognize the workforce as one of the company's assets in the statement of financial position.

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Problem 1: Discuss whether the directors' suggestion is acceptable in accordance with the Conceptual Framework for Financial Reporting.

Reference no: EM132804863

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