It is difficult to discuss its role even in accounting in past centuries. However, the financial world has changed. It has become more complicated and less predictable. Investors demand more reliable information. They want to see their returns if they invest money in particular companies. All these factors require an estimate of future cash flows based on the economic situation of the market. The principles of conservatism should be developed as the financial world evolves in order to provide the necessary information to investors and creditors. In my opinion, the Conceptual Framework represents the beginning of a new era in Accounting. Unfortunately it is difficult to say whether this system works or not. The implementation of the system has just begun and it will take time to analyze and build our system