Task Two: (LOS 1, 2) (12 Marks) Recently, two trainees joined Luxury line to assist in the accounting functions of the company. The accounting manager requested you to describe to the new trainees the relevant elements of the conceptual framework for financial reporting, including the qualitative characteristics of financial information, underlying assumptions and recognition concepts. Your manger requested you to prepare an email that links your theoretical explanation of the conceptual framework for financial reporting to five accounting related examples you encountered during the preparation of the financial statements in Task One Word count: (1,000 words +/-10%)