(Answered) What are your thoughts about the history of the development

Accounting

What are your thoughts about the history of the development of conceptual frameworks?

In the ‘Opening Issues' section of this week's topic on page 79 in your textbook, ". . . It has been argued that the development of a conceptual framework led to improved financial reporting, and this improved reporting provided benefits to financial statement readers as it enabled them to make more informed resource allocation decisions." Hint: think about, how do stakeholders go about making economic/business decisions; how the present conceptual framework applies to global business. Do you think there are issues?

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