Question: pls elaborate 1. why does the standards prevail over the conceptual framework? 2. can the preparers depart from the conceptual framework? why? 3. IS THERE

pls elaborate

1. why does the standards prevail over the conceptual framework?

2. can the preparers depart from the conceptual framework? why?

3. IS THERE A NEED TO REVISE THE ACCOUNTANCY LAW? IF YES, WHY AND WHAT ARE YOUR CONCERNS WITH THE REVISION. IF NO, WHAT ARE THE REASONS?

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