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With reference to the references below, identify and explain arguments as to whether the conceptual framework needed to be revised in order to provide the

  1. With reference to the references below, identify and explain arguments as to whether the conceptual framework needed to be revised in order to provide the IASB with a better basis for standard setting

References

Richard Barker (2015) Conservatism, prudence and the IASB's conceptual framework,Accounting and Business Research, 45:4, 514-538, DOI:10.1080/00014788.2015.1031983

Arjan Brouwer, Martin Hoogendoorn & Ewout Naarding (2015) Will the changes proposed to the conceptual framework's definitions and recognition criteria provide a better basis for IASB standard setting?, Accounting and Business Research, 45:5, 547-571, DOI:10.1080/00014788.2015.1048769

Craig, R., Smieliauskas, W. and Armenic, J. (2017), 'Estimation Uncertainty and the IASB's Proposed Conceptual Framework',Australian Accounting Review,27(1): 112-14.

Andrew Lennard (2007) Stewardship and the Objectives of Financial Statements: A Comment on IASB'sPreliminary Views on an Improved Conceptual Framework for Financial Reporting: The Objective of Financial Reporting and Qualitative Characteristics of Decision-Useful Financial Reporting Information, Accounting in Europe, 4:1, 51-66,DOI:10.1080/17449480701308774

Sutton, Cordery, & Zijl (2015) Sutton, D. B. , Cordery, C. J. , & Zijl, T. (2015). The purpose of financial reporting: The case for coherence in the conceptual framework and standards. Abacus, 51(1), 116-141

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