Developing a conceptual framework is an impossible possibility - Essay Example

Only on StudentShare

Extract of sample
Developing a conceptual framework is an impossible possibility

There have been increasing efforts towards formation of standardized approaches in accounting, in what may be explained to be an accounting conceptual framework. The standardized approach in accounting aims to offering a holistic and uniformed approach in which all accounting problems can be handled. Moreover, such standards help in ensuring ethics and morality in accounting discipline considering that fraud and dishonesty are the main vices affecting the economic discipline as people undertake such economic roles with selfish interests, eroding the integrity of such a profession. Knowledge regarding elements and aspects of accounting and the image created by such profession are thus of critical importance in accounting. Knowledge and Sources of Knowledge Epistemology is the discipline concerned with the theory of knowledge and the way people can attain knowledge. In most cases, sentences are only used to convey meaning, and the meaning itself does not reside in sentences. A proposition is the main element in a sentence as it refers to the meaning of a sentence, and it is the one that leads to knowledge. In accounting, knowledge can be gained from a diversity of sources. ...Show more

Summary

DEVELOPING A CONCEPTUAL FRAMEWORK IS AN IMPOSSIBLE POSSIBILITY: FINANCIAL ACCOUNTING STATEMENTS BY PRESENTED TO: DATE: It is Impossible to Develop a Conceptual Framework in Accounting Introduction In every business entity, there is a growing need to develop financial statements to facilitate measurement of performance in ensuring the company is in line with its goals and objectives, as well as identifying the business position in the competitive market…
Author : harvey62
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Developing a conceptual framework is an impossible possibility"
with a personal 20% discount.
Grab the best paper

Related Essays

Conceptual Framework: Financial Reporting
The effort is aimed to orchestrate the financial systems of International Financial Reporting Standards (IFRS) and the US Generally Accepted Accounting Practices (GAAP). In this paper, the writer intends to analyze and evaluate this joint effort. Research Question Explain what is meant by a ‘conceptual framework’ for financial accounting, discuss the reasons why such a framework might be useful and the reasons why the IASB and FASB believe it is necessary to develop a joint framework.
4 pages (1000 words) Essay
'DEVELOPING CONCEPTUAL FRAMEWORKS ARE A TIME WASTING ACTIVITY'
The conceptual framework is a system of assumptions, concepts, beliefs and theories and justifies the research. It is developed from the experiential knowledge, existing research, established theories, exploratory research and thought experiments. The experiential knowledge in the form of subjective belief is highly important but is often underestimated.
8 pages (2000 words) Essay
Developing a conceptual framework is an impossible possibility
It is a constitution, a logical system of interrelated goals and fundamentals that can lead to consistent standards and that prescribes the nature, functions and limits of financial accounting and financial statements (Chambers, 2009 p. 14). Conceptual framework attempts to harmonize the various ideas and concepts of different accountants and even of the accounting bodies.
7 pages (1750 words) Essay
Developing a conceptual framework is an impossible possibility
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.
6 pages (1500 words) Essay
Developing a conceptual framework is an impossible possibility
It is the main persistence behind the development of accounting principles. The framework act as a backbone to the US based accounting standard GAAP (Generally Accepted Accounting Principles) for evaluation of existing and new development in accounting standards.
8 pages (2000 words) Essay
Compare and cotrast the accounting conceptual framework and the accounting regulatory framework in the Uk?
Accounting conceptual framework exists to for an objective approach to evaluation and resolution of the concerns and is developed by an established body. Regulatory framework defines rules and regulations that concerns accounting practices. Such rules and regulations vary across countries and this paper discusses accounting conceptual framework and accounting regulatory framework in the United Kingdom.
6 pages (1500 words) Essay
Conceptual Framework
Equity differs from liability in the sense that equity depends on the kind of an account an individual owns. It might include preferred stock, common stock, retained earnings, stock options, reserve and capital surplus. IASB seeks to amend equity in terms of preferred stock in that the fixed dividend, which the bank pays an individual because of the profits, accrued before any dividend can be paid to an individual on common stock.
5 pages (1250 words) Assignment
Find out how much would it cost
to get a custom paper written by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT