Accounting Assignment - Does the current accounting framework meet the needs of the users of financial?

Does the current accounting framework meet the needs of the users of financial reports as prescribed in the objective of the Conceptual Framework of Accounting? How the conceptual framework revision to include Prudence is likely to address the disparity in Corporate Reporting is a requirement in your analysis. Focus :  THE ASSESSMENT FOCUS NEED S TO BE ON WHETHER ACCOUNTING IS FULFILLING ITS PURPOSE AS AN INFORMATION SOURCE FOR FINANCIAL DECISION MAKING. YOU MIGHT LIKE TO CONSIDER GENERAL PURPOSE FINANCIAL STATEMENTS AND IF THIS IS SATISFYING THE NEEDS OF USERS SUCH AS INVESTOR, SHAREHOLDERS ETC. AS THIS IS A CRITICAL REVIEW YOU SHOULD CONSIDER WHERE THESE NEEDS ARE BEING MET AND PERHAPS WHERE THEY ARE NOT BEING MET – INCLUDING SUGGESTIONS FOR IMPROVEMENT TO ACCOUNTING.