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What is a conceptual framework in accounting

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The conceptual framework is an example of theoretical development and research that has contributed greatly to the development of accounting practice and clearly expresses the way a firm needs to report to stakeholders. Do you agree? Present arguments for and against.

Problem 1: What is a conceptual framework in accounting?

Problem 2: Why did the accounting community choose to develop a conceptual framework?

Problem 3: How does the conceptual framework assist in addressing accounting practice, and assist in filling gaps where rules do not exist?

Problem 4: Were there difficulties in preparing the conceptual framework? Is it complete? Why not?

Problem 5: Is the international framework comparable to the previous Australian version?

Reference no: EM132839965

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