Discuss why conceptual frameworks were needed and critically
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Discuss why conceptual frameworks were needed and critically

7. What is the meaning of the term “conceptual framework” in financial reporting? Discuss why conceptual frameworks were needed and critically assess their impact on financial reporting.

Hint
Accounts and Finance A conceptual framework is defined as the structure in which the researcher be certain of the best explanation of the natural progression of the phenomenon to be studied. It is connected with the concepts, practical research and vital theories used in encouraging and systemizing the knowledge adopted by the researcher...

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