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GAAP and IFRS have their own Conceptual Frameworks for financial accounting. - What roles does IASBs Conceptual Framework play? Is it different from the FASB?

GAAP and IFRS have their own Conceptual Frameworks for financial accounting.

- What roles does IASBs Conceptual Framework play? Is it different from the FASB?

- What are the contents of IASBs conceptual frameworks? Is it different from the FASB?

Note: see the 2018(new) Conceptual Frameworks.

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