{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Financial reporting advance._0638.docx

Financial reporting advance._0638.docx - This would be...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This would be avoided if a cohesive set of principles were in place. A conceptual framework can also bolster standard setters against political pressure from various 'lobby groups' and interested parties. Such pressure would only prevail if it was acceptable under the conceptual framework. 1.2 Advantages and disadvantages of a conceptual framework Advantages (a) The situation is avoided whereby standards are developed on a patchwork basis, where a particular accounting
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}