Advantages of having conceptual framework
Write down the advantages of having conceptual framework.
Expert
The major advantage of the conceptual framework is which it clarifies conceptual underpinnings of the accounting standards and permits standard setters to expand accounting standards on the consistent basis. It as well aids preparers, auditors as well as users of financial statements to comprehend the approach to standard setting, and the nature and function of financial information reported.
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Product cost $250 and income on the sale of the product is $625 what is the percentage of my cost
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