(a) Why do we need a conceptual framework when we have a comprehensive set of accounting standards...

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(a) Why do we need a conceptual framework when we have a comprehensive set of accounting standards such as IFRS?

(b) Who are the primary users of general-purpose financial statements?

(c) IASB does not include management of a company as one of the primary users of general-purpose financial statements. Why do you suppose that is?

(d) Should financial information be only ‘decision useful’? Explain why.

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Advanced Financial Accounting An International Approach

ISBN: 9780273712749

1st Edition

Authors: Jagdish Kothari, Elisabetta Barone

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Question Posted: Jan 28, 2024 12:02 AM

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(a) Why do we need a conceptual framework when we have a comprehensive set of accounting standards...

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Advanced Financial Accounting An International Approach

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