The paper "Developing Conceptual Frameworks Are a Time Wasting Activity" has critically evaluated the conceptual frameworks in the context of financial accounting theories and found that the conceptual framework is a very important part of theory development…
The financial accounting theory functions on the basis of conceptual framework, explains the observed accounting practices and predicts the unobserved practices. The theoretical framework of accounting evolved significantly in the 20th century following the market crash in 1929 and recent financial crisis. The major accounting theories, developed in 20th century are Efficient Market Hypothesis (EMH), fundamental analysis model, CAPM, positive accounting theory and critical perspective model. These theories were criticised by SATTA (Statement of Accounting Theory & Theory Acceptance) giving the reasons why these theories could not gain general acceptance. The main points of criticism were real world complexity, varying requirements of user groups, and failed interpretation of security price behaviour through EMH, costs of adopting accounting standards more than the benefits and limited capacity of users in assimilation and analysis of accounting information. Further, to understand the implications of conceptual framework example of the joint project of IASB and FASB for the convergence of their respective conceptual frameworks is discussed. ...
Conceptual Framework A conceptual framework explains the key factors, variables or constructs and their presumed interrelationships either in a narrative form or graphic form (Miles & Huberman, 1999, p.18). It is primarily a model or conception of what is meant to be studied i.e. the system of assumptions, concept, beliefs, expectations and theories. Its function is to help assess the goals, develop relevant and realistic research questions, select apt methods and identify the validity threats to the conclusion. The conceptual framework also helps in justifying the research. It is like a tentative theory which may or may not be complete. In order to construct a conceptual framework of a study the sources which can be used are: experiential knowledge, existing research and theory, exploratory research and thought experiments (Maxwell, 2005, p.33-37). The experiential knowledge is the most important and neglected source for conceptual framework and bringing it in the research is treated as bias whereas Peshkin (1988) has strongly argued that the researchers should seek subjectivity in a systematic manner rather than in retrospective manner when the data collection and analysis is complete (Peshkin, 1988, p.17). A belief is a subjective condition of knowledge. For example in order to know a proposition ‘P’, one has to believe ‘P’ (Hospers, 1997, p.40). ...
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FASB and the IASB. Both the boards have their own accounting standards, but due to enhanced globalization, both the boards have taken substantial steps in convergence of the accounting standards. Following are some of the reasons for the convergence of accounting standards.
Erosion occurs when wind or water blow/wash away the topmost fertile layer of soil. As fertile land loses its fertility due to soil erosion, it is difficult to grow crops on eroded lands. Apart from affecting crops, erosion also weakens land, causing buildings to collapse.
These teams are either seen to be distributed across the same nation in case of a small organization or works across country borders in cases of large multinational corporations. One prominent which must be considered while developing such teams and which influences interaction between such teams are cultures.
The conceptual framework provides guidance on the boundaries of financial accounting and other events related to it. The accounting conceptual framework was developed as early as 1970s. The Financial Accounting Standards Board (FASB) is in charge of developing and reviewing the frameworks.
Apart from enlarging the knowledge about a certain topic, literature review is used in information seeking when one can scan through the literature to identify useful books and articles. Literature review also enables critical appraisal and the ability of applying the principles of the analysis that identifies valid and unbiased studies.
The two conceptual theoretical frameworks that will be considered in this section are the nontraditional undergraduate student attrition conceptual model and the community college retention model (Terenzini, 1987). According to Bean and Metzner (1985), five factors are the major determinants of an increase in enrollment of nontraditional students in colleges.
According to the report the main root of this problem is the fact that the IASB outline applies to both private and public sector’s business entities whereas the FASB framework concerns both business with the exemption of the non-profit businesses in the private quarter. The application of accounting standards is very different among the many nations.
These teams are either seen to be distributed across the same nation in case of a small organization or works across country borders in cases of large multinational corporations. One prominent which must be considered while developing such teams and which influences the interaction between such teams are cultures.
Accounting is also entails a statement of accepted accounting rules. This rule forms the structure of reference for the financial reporting. Out of the above statement therefore, conceptual framework forms the
A very important sub-function of HR is training and development, which serves to benefit both the organization (with monetary returns) and the individuals in the organization (in terms of personal growth and development). Many studies have found that investing in human
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