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Revision question on financial accounting conceptual framework NBAA, B2, Nov 2018.

(a)  Identify the main users of the financial statements and describe the adequacy of the general purpose financial statements to cater for the reasonable needs of its major users.                                                                 

(b)       The  International   Accounting   Standards   Board   (IASB)   issued the Conceptual Framework which among other purposes assists the Board in the development of future IFRSs and … Read the rest