Question: (a) Describe the conceptual framework and explain how it helps financial reporting. (b) Is the conceptual framework applicable to publicly traded companies reporting using IFRS,

  1. (a) Describe the conceptual framework and explain how it helps financial reporting. (b) Is the conceptual framework applicable to publicly traded companies reporting using IFRS, to private companies using ASPE, or to both?
it's about the usage of conceptual framework

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