According to the Conceptual framework, part of the reason for production of financial statements is to...

 

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According to the Conceptual framework, part of the reason for production of financial statements is to meet the needs of the external users. Required: Discuss two advantages of conceptual framework and highlight five economic decisions likely to require the use of financial statements (10 marks) According to the Conceptual framework, part of the reason for production of financial statements is to meet the needs of the external users. Required: Discuss two advantages of conceptual framework and highlight five economic decisions likely to require the use of financial statements (10 marks)

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The conceptual framework in accounting provides a foundation for the production of financial statements and it offers several advantages Two advantages of the conceptual framework are as follows 1 Sta... View the full answer