It is fogadly heard that the conceptual framework would latifom prace and fewer choice. However, there are always seguments which both for and oppose priority in accounting practice both within any given country as well intentionally Since accounting information is reed on by a variety of ees with different purposes, this dilemma about standardization would appear not to serve all these different interests with the same degree of success a Identity and discuss the benefits that can be expected to be derived from the Conceptual Framework by addressing to the comments or dilemmas above Accounting standards do not require companies to disclose forecasts of any financial variables to edernalserFor emple, the relevant information is not provided to investors and creditors to help them predict the future cash flows Explain why the prediction of future cash flows information is not routinely provided to investors and creditor The ASB and the Is Financial Accounting Standards Board (FASB) have been wwking the since 2000 to achieve convergence of IFRS and US generally cepted accounting principles GAP To date, the convergence projects finished Explain with proper reference why the development process of laterational accounting harmonization is difficult and comples