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    irdzyu's Avatar
    irdzyu Posts: 1, Reputation: 1
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    #1

    Aug 3, 2010, 08:16 PM
    Explain why principles-based standards require a conceptual framework.
    1. Explain why principles-based standards require a conceptual framework.
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Aug 3, 2010, 11:26 PM

    Please see the guidelines for posting homework questions:
    https://www.askmehelpdesk.com/financ...-b-u-font.html

    I would hope the answer to this is flat-out in your textbook.
    puteres's Avatar
    puteres Posts: 1, Reputation: 1
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    #3

    Feb 24, 2012, 07:27 PM
    Principle –based standards require a conceptual framework because conceptual framework aims to provide a structured theory of account. It also states the scope and objective of financial reporting for higher level and deals with principle and rules of recognition and measurement of the basic element and the type of information to be displayed in financial report for lower level.
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