Objectives of a conceptual framework include:
A) providing a defence against lobby groups.
B) fewer and more consistent Accounting Standards.
C) improved communication.
D) all of the above.

Question

Quizplus · Accepted Answer

A conceptual framework addresses a range of issues faced by standard setters, including providing a strong basis for defending decisions against lobbying pressures, providing clear frameworks for developing new standards, and improving communication between different stakeholders. Ultimately, these goals are aimed at improving the consistency and efficacy of accounting standards over time.

Objectives of a Conceptual Framework Include