The Framework for the preparation and presentation of financial statements adopted by IASB in April 2001 attempts

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The Framework for the preparation and presentation of financial statements adopted by IASB in April 2001 attempts to establish a conceptual framework for the accounting and reporting functions.

(a) Who would benefit from such a conceptual framework?

(b) What have been identified as underlying assumptions?

(c) What have been identified as the qualitative characteristics that information in financial statements should possess?

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Related Book For  answer-question

Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

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