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To what standards does the Chart of Accounts need to be prepared and what role has the AASB(Australian Accounting Standards Board) in this? Discuss in

To what standards does the Chart of Accounts need to be prepared and what role has the AASB(Australian Accounting Standards Board) in this? Discuss in 150 to 180 words.(Please type up your answer) (Please consider this is Australian Accounting environment)

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