Question
1. When there is conflict between what is said in the standards and in the framework, the rule is that standard prevail. Explain why 2.
1. When there is conflict between what is said in the standards and in the framework, the rule is that standard prevail. Explain why
2. What is the role of PIC in the accounting field? How important in the committee?
3) What is the main difference between PAS1 and PFRS 1? (Discuss the main topic/s that they tackle )
2) Why was there a need for the creation of PFRS 1?
3) Why is there a need for uniform fnancial reports throughout all industries?
4) What is the importance of strictly following the accounting standards?
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Financial Accounting
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
8th edition
978-1118953907, 9781118953808, 1118953908, 1118953800, 978-1119491057
