Standards Board (IASB) and US Financial Accounting Standards Board (FASB) have been joined and worked together on convergence project since 2002 for the purpose of combining US accounting standards and global standards into a single International financial reporting standards. This paper will discuss about the history and the relationship between International Accounting Standards Board and Financial Accounting Standards Board. It also evaluates the IASB equivalents of the FASB original pronouncements
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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.
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the IASB’s Conceptual Framework and the Exposure Draft ‘Conceptual Framework for Financial Reporting – The Reporting Entity’ Introduction This report is intended to discuss the significance of the IASB’s Conceptual Framework. It will layout the basis of the Conceptual Framework and then discuss its significance and relevance with regards to previous and future accounting industry standards. Findings The IASB’s (International Accounting Standards Board) Conceptual Framework is a set of
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(Figure 1.0. Conceptual Framework of the PUPSMBC Student Council Voting System through SMS) The proponents used the Input Process Output Diagram (IPO) as their Conceptual Framework of the study which guides while undergoing the study. The Input (I)‚ the Process (P)‚ and the Output (O)‚ these variables are the component of inquiry. The Input as the source of information‚ the Process as the procedure undergoes and the Output showed the result of the process information and the target system
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Conceptual Frameworks In chapter 1 some of the sections that mainly stood out to me were the concept of identity‚ dominant and subordinate groups‚ and the concept of privilege. The readings in this chapter took me through several steps as I read. I first thought about identity and how I view myself. Then I thought on how others view me. Identity then led into dominant and subordinate groups. The way I identify myself places me in a dominant or subordinate group
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2‚ No. 2‚ pp.41-49‚ Feb 2011 Conceptual framework on the relationship between human resource management practices‚ job satisfaction‚ and turnover *Hamdia Mudor1 Phadett Tooksoon2 of Communication Sciences‚ Prince of Songkla University‚ Pattani Campus‚ Thailand 2Faculty of Business Administration and Liberal Arts‚ Rajamangala University of Technology Lanna Tak‚ Thailand *anandia@hotmail.com 1Faculty Abstract: This paper attempts to propose a conceptual framework consisting of three human resources
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Conceptual Framework Paradigm of the Study OUTPUT Determined preferred source of educational information and its benefit to the academic activities among Junior Bachelor in Office Administration Students. OUTPUT Determined preferred source of educational information and its benefit to the academic activities among Junior Bachelor in Office Administration Students. PROCESS Descriptive design Checklist / Questionnaire PROCESS Descriptive design Checklist / Questionnaire INPUT
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Accounting Conceptual Framework is a set of theoretical principles which are generally accepted as guidelines in preparing financial statements. One of the purposes of having an accounting conceptual framework is to give guidelines for the standard setters when they are coming up with new standards or revising existing accounting standards. Besides‚ it is also very useful when preparing and auditing the financial statements. This framework is being used by many different types of users include Board
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and its relationship with accounting theory. The discussions are based on the context of conceptual framework. It is widely recognized that revenue is one of the most important items in financial statements and that revenue recognition is one of the most difficult issues that standard-setters and accountants have to deal with (FASB‚ 2002). There exist a variety of reasons for the emergence of the IASB-FASB joint project on revenue recognition. The most essential reason is‚ as stated in the exposure
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the IASB and FASB have been striving since 2002 to achieve convergence‚ there are still many differences between the two. These differences range from revenue recognition to the matter in which the organizations receive funding. Under the IASB‚ the accrual method is the only preferred way of recognizing revenue and expenses. While FASB accepts cash basis and accrual basis; cash basis is only accepted if cash sales are less than $5 million per year. When it comes to generating funds the IASB receives
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