Outline and explain the history of the conceptual framework

Reference no: EM133360144

A conceptual framework coherent system of concepts, which are guidelines to the accounting standards used for financial reporting. The conceptual framework assists preparing to Delia consistent accounting policies when no IFRS Standard applies or allows a choice of accounting policy.

Question 1 Outline and explain the history of the Conceptual Framework and current developments.

Question 2 Outline and explain the problems with criticisms of the Conceptual Framework

Reference no: EM133360144

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