What is Accounting Conceptual Framework?


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Essay #: 056672
Total text length is 15,842 characters (approximately 10.9 pages).

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The beginning:
What is Accounting Conceptual Framework?
“A conceptual framework of accounting aims to improve financial reporting, and yet it seldom provides solutions to specific accounting problems in the real world. Hence, it is not worth continuing with the accounting conceptual framework.”
Introduction - What is Accounting Conceptual Framework?
Conceptual framework in accounting is by its nature very broad and all inclusive concept. Lynch (1998, P 2) defined Conceptual Framework in accounting as “A golden system of inter-related objectives and fundamentals that should lead to consistent standards that prescribe the nature, function and limits of financial accounting and financial statements.”
In simple term conceptual framework in accounting is a...
The end:
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