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Q1 Explain the objective of financial reporting by business enterprises? Q2 Identify the elements that comprise the IASB due process. Q3 What are the steps

Q1 Explain the objective of financial reporting by business enterprises?

Q2 Identify the elements that comprise the IASB due process.

Q3 What are the steps that the IASB follow in the development of a typical IFRS?

Q4 What are the basic components of the conceptual framework? What are your opinion about the success of the conceptual framework?

Q5 Explain the five basic assumptions that underlie financial accounting.

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