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What advantages arise from using conceptual frame work

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Reference no: EM132519635

The International Accounting Standards Board (IASB) has developed the "Conceptual Frame work" for financial reporting.

Question 1. What is generally understood by the term a "Conceptual Frame work"?

Question 2. What advantages might arise from using a "Conceptual Frame work"?

Reference no: EM132519635

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