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Conceptualizing is putting boundaries around reality for the purpose of formulating and solving or creating something that is in the imagination. So to conceptualize financial reports would be to take the reality, financial statements, and to formulate and solve issues that can be imagined with this reality. The imagination of given events that are formulated and then creating for the process of solving the formulations with the reality of the financial information.
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Is there some solid example of this?
Yes it is usually done by upper management and the Board of Directors in planning and budgeting process when the financial statements or being reviewed by them after the audit.
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