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Unformatted text preview: 4. Does the AASB-developed Conceptual Framework still exist? If so, what are the existing components? 5. How do you determine if a company is a reporting entity (according to the Statement of Accounting Concepts SAC1)? 6. What is the purpose of the Framework? Discuss each purpose. 7. What is the objective of financial reports identified in the Framework? 8. What are the qualitative characteristics of financial reports identified in the Framework? 9. T&G Discussion question 6.7: Provide 3 examples of trade-offs among accounting principles. 10. Discuss the impact of changes in accounting standards....
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- Three '09