Disadvantages of Conceptual Framework


Disadvantages of Conceptual Framework is a coherent system of inter-related objectives and fundamentals followed in financial accounting and financial reporting. It leads to consistent standards of accounting and prescribes the scopes and limitations of the same. CF was developed mainly in accounting practices. CF can act as a standard setting procedure and can be used to resolve disputes. CF helps to set the standard to build acceptable practices of preparing and presenting accounting information.

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