On the Conceptual Framework of Accounting
One of the key areas of accounting and financial reporting that most accounting professionals
take for granted is the conceptual framework of accounting. In fact it is the baseline of understanding
accounting and applying accounting standards be they, rule-based as in US GAAP
or principles based as in IFRS.
By now, you should already be aware of the Norwalk Agreement in 2002 in which the FASB and the IASB agreed to develop one set of high-quality accounting standards for global application. As at 2010, over one hundred and twenty countries are using IFRS with much mandatory application for all European companies. Unfortunately, this is not the focus of this article. [...]
|Journal||Today's accountant : the magazine for Institute of Certified Public Accountants of Uganda (ICPAU)|
Zori, S.G. (2012). On the Conceptual Framework of Accounting. Today's accountant : the magazine for Institute of Certified Public Accountants of Uganda (ICPAU), 2012(January-March), 34–38. Retrieved from http://hdl.handle.net/1765/104009