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The following extract is taken from the article A tale of 'prudence by Steve Cooper, which you were required to read as part of the
The following extract is taken from the article "A tale of 'prudence" by Steve Cooper, which you were required to read as part of the course. Required Briefly outline the following: i) how prudence is defined in the IASB conceptual framework (2 marks) ii) how faithful representation is defined in the IASB conceptual framework (4 marks) iii) an example stated in the full article, supporting conservatism in accounting ( 3 marks) iv) why the IASB removed prudence from the conceptual framework ( 2 marks) v) why investors may support the re-inclusion of prudence in the conceptual framework (4 marks)
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