Conceptual framework Accounting

May 19th, 2015
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California State University - Bakersfield
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The conceptual framework is a set of fundamental principles that support financial accounting in order to establish a basis upon which new financial reporting practices can be developed. I

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Accounting Short answers1 the concept and nature of the conceptual framework, advantages and disadvantagesThe conceptual framework is a set of fundamental principles that support financial accounting in order to establish a basis upon which new financial reporting practices can be developed. In essences, it is an attempt to derive a theory for determining the information to be provided in financial reports.The objectives of conceptual framework are to enable regulators to:1. develop standards that were consistent and logically formulated2. provide guidance to accountants in areas w

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