Watch the following autism TED Talk video. Think about the genetic risk factors for not only autism but for other neurological and mental health disorders, as well.
Conceptual Framework is a standard guideline that assists in general purpose reporting through more complete, clear and updated set of concepts. The advantages for accounting that can result from the development of conceptual frameworks are as follows: • Accounting standards prescribed in the conceptual framework provides more consistent and logical accounting process which is based on agreed principles. For example, accountants preparing balance sheet as per conceptual framework is consistent throughout the world. • Conceptual framework development provides the accountants to be clear about what they did and why did they do. For example, using fair value accounting for plant and equipment keeps accountants on comfortable position to explain why they chose that method for that asset. • Increased international compatibility of accounting standards • Conceptual framework provides the standard-setters to be more accountable for their decisions as they will be following the stable framework described in the conceptual framework. For example, standard setters have provided the clear link between the users and methods of measurement in accounting. • Communication between standard- setters and their constituents is enhanced because their proposed accounting standards is open for public comment and also prevents from political attack. • There will be simpler resolution of the accounting dispute because of standard formats and economical decision making. • Where CF’s cover a particular issue, there might be a reduced need for additional accounting standards to be proposed. (b) As per Hines in the “Accounting, Auditing and Accountability Journal, 2 (2). Pp.72-92, the professional accountants has the most gain from the development of conceptual framework because their work is now independently recognized, different from other professions such as law, engineers. As per the conceptual framework, expertise in accounting professionals are those who possess the formal knowledge base which helps to define indi>GET ANSWER