A conceptual framework is a statement of theoretical principles that provides guidance for financial accounting and reporting. (Collins & Hussey‚ 2007). It therefore prescribes the nature‚ function and limits of financial accounting and financial statements. The IASB’s Framework for the preparation and presentation of financial statements sets out the concepts that underlie the preparation and presentation of financial statements that external users are likely to rely on when making economic decisions
Premium International Accounting Standards Board Standardization International Financial Reporting Standards
School of Management Semester 1‚ Academic Session 2013/14 ACW 367: Accounting Theory & Issues THE CONVERGENCE TO A GLOBAL ACCOUNTING STANDARD LECTURER: PROFESSOR DR. FAUZIAH MD. TAIB GROUP MEMBERS: BIL NAME MATRIC NO. 1 MUHAMAD FAZLULLAH B MUHAMAD NAZRI 108548 2 SITI NUR AMIRAH BT SAIKH MD NOR 108569 [ACKNOWLEDGEMENT] Through this opportunity‚ we would like to thank Professor Dr. Fauziah Md. Taib‚ our ACW367’s lecturer because she gave us a lot of valuable information
Premium International Financial Reporting Standards Financial statements
An Assignment on Conceptual Framework of Accounting An Assignment on Conceptual Framework of Accounting Course Name: Financial Accounting-II Course Title: MGT-204 Submitted By: Md. Nazrul Islam ID#2340 2nd Batch Department of Management Studies Submitted To: AKM Anisuzzaman Lecturer‚ Dept of Accounting & Information Systems Jahangirnagar University‚ Savar‚ Dhaka Date of Submission:____May 2013 Conceptual Framework: A conceptual framework establishes the concepts
Premium Generally Accepted Accounting Principles Balance sheet Income statement
CONCEPTUAL FRAMEWORK Concept - A concept is a generalized idea of a thing or class of things. Concept vs. Idea It is roughly synonymous with the word ’idea’ but it is a little more specific. An idea can just spring to mind out of nowhere but generally a ’concept’ is based on observation of real phenomena. I say ’a little more specific’ because both the word ’idea’ and ’concept’ cover a lot of ground and are used in many ways. An example of a concept in Biology would be evolution Concept vs.
Premium Concept Abstraction Alcohol
Creating Conceptual Art Paper ARTS/230 November 24‚ 2014 Berta Stead Creating Conceptual Art Paper Conceptual Art was first used in 1967 by the artist Sol LeWitt‚ in his Paragraphs on Conceptual Art ’ essay in which he states "I will refer to the kind of art in which I am involved with as conceptual art.” In conceptual art‚ the idea of the concept is the most important aspect of the work. When an artist uses a conceptual form of art‚ it means that all the planning and decisions are made beforehand
Premium Trojan War Eris Greek mythology
Abstract This essay protrudes the objective of general purpose financial reporting (GPFR) as edged in the conceptual framework. The essay instigated with a brief history and development of conceptual framework which comprises Statement of Accounting Concepts. Apart from that‚ the essay also clarifies on how the financial information is essential for the users as stated in the SAC 2‚ for decision making purposes. Additionally‚ an illustration of the relationship between the SACs and how they are
Premium International Financial Reporting Standards International Accounting Standards Board Financial statements
Introduction With development of accounting standards and surrounding‚ the International Accounting Standard has updated several times in accordance with changing situation. Therefore‚ the new IASB Conceptual Framework‚ published in 2010‚ replaced IASB Framework for the Preparation and Presentation of Financial Statements. (Melville‚p17) Financial statement‚ which is usually contained in entity’s annual report‚ is prepared for existing and potential investors to make their economic decisions.
Premium Balance sheet Financial statements International Financial Reporting Standards
Joseph Cornell Artist This internationally renowned modern artist never had professional training. He was first and foremost a collector. He loved to scour old book shops and secondhand stores of new York looking for souvenirs‚ theatrical memorabilia‚ old prints and photographs‚ music scores‚ and French literature. Joseph Cornell was born on Christmas Eve 1903. He was the oldest of four children born to Helen and Joseph Cornell. He had two sisters‚ Betty and Helen‚ and a brother‚ Robert. Cornell
Premium Modern art Art Marcel Duchamp
The Conceptual Age Society has gone through stages‚ each one spurred by the want or need of improving life. At the beginning of time‚ society was based on hunting and gathering and then it advanced to the agricultural age. Then we moved into the industrial age‚ and recently‚ the information age. But now we are heading into a new stage‚ the Conceptual age. To adjust to and prosper in this age‚ people will need to develop skills in creating artistic and emotional beauty‚ in detecting patterns
Premium Science Sociology Art
Metaphor in cognitive linguistics is a two-way affair: it can go from linguistic metaphor to conceptual metaphor or from conceptual to linguistic metaphor. For instance‚ cognitive linguists have used the abundant and systematic presence of metaphors in language as a basis for postulating the existence of conceptual metaphors‚ which illustrates the move from language to thought. Here is a whole series of conceptual metaphors which capture our thinking about “ideas” below. IDEAS ARE FOOD
Premium Conceptual metaphor Linguistics