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The Conceptual Framework in the Accounting Profession

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Explain the conceptual framework, and discuss why it is important to the accounting profession. In your opinion, do all professional accountants use the conceptual framework in their daily work activities, and if so, how?

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The solution explains the conceptual framework and why it is important to the accounting profession.

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The conceptual framework is an underlying structure in a professional education unit that gives conceptual meanings through an articulated rationale to the unit's operation, and provides direction for programs, courses, ...

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