Question: The IASBs Conceptual Framework is the basis upon which all IASs and IFRSs are based and therefore determines how financial statements are prepared and the

  1. The IASBs Conceptual Framework is the basis upon which all IASs and IFRSs are based and therefore determines how financial statements are prepared and the information they contain. Identify which IAS builds on this framework and what the IAS states to be the composition of a complete set of financial statements. (5 marks)

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