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Regulatory framework

BBrian4y ago
Sir what’s the difference between regulatory framework and conceptual framework
John MoffatJohn MoffatTutor4y ago#1
The conceptual framework is listing the concepts (ideas) that are applied in accounting (such as the prudence concept). The regulatory framework is the Accounting Standards which state the rules about how these concepts should be applied in specific situations. Have you read our lecture notes on this and watched the free lectures on them?
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