It is difficult to discuss its role in accounting in past centuries. However, the financial world has changed. It has become more complicated and less predictable. Investors are demanding more reliable information. They want to see their returns if they invest money in particular companies. All these factors require estimation of future cash inflows based on the economic situation of the market. The principles of conservatism must be developed with the evolution of the financial world in order to provide the required information to investors and creditors. In my opinion, the conceptual framework marks the beginning of a new era in the field of accounting. Unfortunately, it is difficult to say whether this system works or not. The implementation of the system has just started and it will take time to analyze and build our