The Conceptual Framework of Accounting
Автор: Md. Shafiqul Alam LL.B, FCS, FCA, FCMA
Загружено: 2020-11-19
Просмотров: 8885
Описание:
A conceptual framework can be defined as a system of ideas and objectives that lead to the creation of a consistent set of rules and standards. Specifically in accounting, the rule and standards set the the nature, function and limits of financial accounting and financial statements.
The main reasons for developing an agreed conceptual framework are that it provides:
• a framework for setting accounting standards;
• a basis for resolving accounting disputes;
• fundamental principles which then do not have to be repeated in accounting standards.
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