Refer to the following issues regarding the conceptual framework and answer the questions below. It is frequently heard that the conceptual framework would lead to more uniform practice and fewer choices. However, there have been arguments that favour and oppose greater uniformity in accounting practices within a country as well as internationally.

Required: With proper reference and citation, complete the following: a) Identify and discuss the benefits that can be expected to be derived from the conceptual framework by addressing the relevant comments or dilemmas discussed above.