Note: I have only one hour to answer this question, help me please!

The International Accounting Standards Board (Board) issued the revised Conceptual Framework for Financial Reporting (Conceptual Framework), a comprehensive set of concepts for financial reporting, in March 2018.

Required:Discuss the following subjects:

1- Why have we revised the Conceptual Framework?

2- The revised Conceptual Framework introduces main improvements.

3- Qualitative characteristics of useful financial information.

4- The objective and scope of financial statements and provides a description of the reporting entity.

5- The various measurements bases and discusses factors to be considered when selecting a measurement basis.

6- The concepts on presentation and disclosure and guidance on including income and expenses in the statement of profit or loss and other comprehensive income.

7- That document sets out amendments to Standards to update references to the Conceptual Framework.