1) Provide a brief background in your own words to the role of a conceptual framework in accounting,  including benefits of having one, together with problems and criticisms of the current (2010) framework. (3  Marks)  2) In your own words and in your opinion, what should be the objective of general purpose financial reporting?  (3 Marks)  3) In your own words, explain what you understand by the term ‘prudence&…

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