The Conceptual Framework for Financial Reporting 2010 states the objective of general purpose financial reporting as to provide financial information about the reporting entity that is useful to existing and potential investors, lenders and other creditors in making decisions about providing resources to the entity. Those decisions involve buying, selling or holding equity and debt instruments, and providing or settling loans and other forms of credit.

- Briefly explain the underlying principles of the Conceptual Framework 2010 in producing a set of financial statements useful for user decision-making.

- Identify and describe any two (2) proposals for amendment as contained in the Exposure Draft Conceptual Framework for Financial Reporting ED/2015/3. Discuss the deliberations in these proposals, and their basis for conclusions.

need at least 600 words