Question: It is argued that the conceptual framework developed by the International Accounting Standards Board is underpinned by the decision-usefulness perspective rather than the stewardship perspective.

  1. It is argued that the conceptual framework developed by the International Accounting Standards Board is underpinned by the decision-usefulness perspective rather than the stewardship perspective. Explain both perspectives using examples.

  1. According to the IASB conceptual framework, the two main qualitative characteristics that financial information should possess have been identified as relevance and representational faithfulness. Explain with examples relevance and representational faithfulness.

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