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What Is Conditional Conservatism?

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Most economically, the important body of work is the role of conditional conservatism in markets. Indeed, there is a view that information needs of accountant is the main driver of the market demand for accounting conditional conservatism. At the present moment, US was the markets dominator to reflected in the accounting standards. However is if very difficult to predict how different US GAAP would be today in the absence of US markets.
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