entire discussion to follow our focus would be on the word “Arrogant”. This is important to discuss because generally arrogant people have a negative impact on the social fabric. We shall try to detect & understand arrogant people. II. Conceptual Framework: We start with the definition : “Making or implying unwarrantable claims to dignity‚ authority & knowledge; aggressively conceited or haughty‚ presumptuous‚ overbearing” ( The Oxford Concise Dictionary of English) The word ‘unwarrantable’
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Ethics and Conceptual Framework Paper Conceptual Framework There are two major philosophies in accounting consisting of a principles-based system for accounting and a rules-based system for accounting. The following discussion will speak about these two philosophies and will define one as being a best fit for encompassing the role of ethics and the conceptual framework. The conceptual framework was established by the Financial Accounting Standards Board (FASB) and is used to help define the boundaries
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The IASB’s Conceptual Framework for Financial Reporting I am from England‚ and here in the UK‚ unlike most countries‚ our system of government has no comprehensive written constitution. Many countries do have such constitutions and in these circumstances the laws of the land are shaped and influenced by the constitution. Now while the International Accounting Standards Board (IASB) is not a country it does have a sort of constitution‚ in the form of the Conceptual Framework for Financial
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The New Conceptual Framework: The Objective of General Purpose Financial Reports By Jim McFie‚ a Fellow of the Institute of Certified Public Accountants of Kenya FASB (the Financial Accounting Standards Board‚ a US body) was the first organization to develop “Concepts Statements”. All the other “Concepts Statements” have been based on those developed by FASB. A new “Conceptual Framework for Financial Reporting” was worked on jointly by FASB and IASB (the International Accounting Standards Board)
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Conceptual Framework The Conceptual Framework for Financial Reporting The Conceptual Framework was issued by the IASB in September 2010. It superseded the Framework for the Preparation and Presentation of Financial Statements. © IFRS Foundation A21 Conceptual Framework CONTENTS paragraphs FOREWORD THE CONCEPTUAL FRAMEWORK FOR FINANCIAL REPORTING INTRODUCTION Purpose and status Scope CHAPTERS 1 2 3 4 The objective of general purpose financial reporting The reporting entity to be added Qualitative
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Nonetheless‚ to some‚ the conceptual framework has contributed a lot in the development of business‚ financial‚ accounting and auditing fields. For instance‚ using the conceptual framework of financial reporting‚ the Water Accounting Standards Board (WASB) in Australia has developed a Water Accounting Conceptual Framework in order to assist in the country’s water reporting and the rights to water (Chalmers et al.‚ 2012). The WASB replicated the financial accounting concepts‚ principles and practices
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Accounting Regulation and Conceptual Frameworks‚ Traditional Arguments for Accounting Regulation – 1) Prevention of fraud – Enron 2) Comparability 3) Asymmetrical information – big institutional investors have more information than small retail investors. Beaver (1981)‚ strongly believes in pro market lobby‚ market solutions are always the best‚ we should never regulate. – Very influential academic – Highly reputable Traditional Arguments against accounting regulation 1) Capture theory – person
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Running Head: Conceptual Framework Conceptual Framework: Resilient Individual Shelton Land Virginia Commonwealth University CONCEPTUAL FRAMEWORK ESSAY: RESILIENT INDIVIDUAL Introduction The crossing of genders has been a hurdle that society has stumbled to accept since the beginning of time. Early hypotheses about the so-called cause of homosexuality originated from the psychodynamic perspective that men became gay because of a dysfunctional family system in which they were emotionally
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2 Contents Conceptual framework for financial reporting Objectives 2.1 Why a conceptual framework? 2.2 IASB Framework for the Preparation and Presentation of Financial Statements 2.2.1 The objective of financial statements 2.2.2 Stewardship as an objective of financial statements: the current debate 2.2.3 Underlying assumptions 2.2.4 A note on the ‘going concern’ assumption 2.2.5 Qualitative characteristics of financial reporting information 2.2.6 Constraints on financial reporting 2.3 Elements
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CONCEPTUAL FRAMEWORK FOR FINANCIAL REPORTING SCOPE OF THE FRAMEWORK The existing framework deals with the ■ Objectives of financial statements; ■ Qualitative characteristics of financial statements; ■ Elements of financial statements; ■ Underlying Assumptions; ■ Recognition of the elements of financial statements; ■ Measurement of the elements of financial statements; and ■ Concepts of capital and capital maintenance OBJECTIVES The objective of general purpose financial reporting.
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