RELEVANT TO ACCA QUALIFICATION PAPER F7 AND PERFORMANCE OBJECTIVES 10 AND 11 The need for and an understanding of a conceptual framework This topic forms most of Section A (and has an influence on Section B) of the syllabus for Paper F7‚ Financial Reporting. A conceptual framework is important to the understanding of the many principles and concepts that underpin International Financial Reporting Standards (IFRS) and is an often-neglected part of candidates’ studies. Questions from these areas
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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.
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The skill I chose is the conceptual skill. At the business I’ am currently working at fits this skill perfect. I work at a hair salon as a receptionist and all we strive to do is understand issues and solve problems. If a client is unable to get in for an appointment we go over and beyond to make sure their needs are satisfied. We also try to come up with many ideas as possible to be the best in the business we can be. Even the hair stylists have a lot they use the conceptual skill with‚ if a client
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The Conceptual Blender The findings shown from the theory of conceptual blending‚ also known as the blending theory‚ described in The Way We Think‚ by Giles Fauconnier and Mark Turner‚ allows students and researches an opportunity to better understand both the general and comprehensive organization of linguistic and conceptual occurrences. What is conceptual blending? Conceptual blending is a theory of cognition or the way we think. Conceptual blending‚ also called conceptual integration‚ can
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Importance of Team Management The term team management has been borrowed from the sports terminology‚ where all members of a team‚ work together to achieve a common goal. All members of the team are of equal importance and work individually and cooperatively to finish assigned tasks. In this kind of team problems are shared‚ as well as successes. On the other hand failures are not blamed on an individual but are carefully analyzed to explain reasons for mistakes or failure. Successful managers
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Financial Accounting Standards Board ORIGINAL PRONOUNCEMENTS AS AMENDED Statement of Financial Accounting Standards No. 19 Financial Accounting and Reporting by Oil and Gas Producing Companies Copyright © 2008 by Financial Accounting Standards Board. All rights reserved. No part of this publication may be reproduced‚ stored in a retrieval system‚ or transmitted‚ in any form or by any means‚ electronic‚ mechanical‚ photocopying‚ recording‚ or otherwise‚ without the prior written permission
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INTRODUCTION The world of management is changing at an unprecedented rate which places pressure on managers to adapt in order to cope with the challenges that emerge. A manager responsible for leading a Learning Focused Organisation in the 21st Century should possess some important skills‚ knowledge and attributes (SKAs) to lead an organisation effectively. Ten SKAs will be looked at with supporting evidence demonstrating their importance to managers in a fast moving world. 10 SKAs 1.
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ESSAY: THE IMPORTANCE OF KNOWLEDGE MANAGEMENT; SHARE TO LEARN‚ LEARN TO SHARE. W R IT T E N B Y : J E R R E L D E P A A U W 1. INTRODUCTION Nowadays‚ knowledge is an important factor for people to gain distinctive advantages in the present society; through training‚ coaching and education‚ people can develop their skills‚ abilities and attitudes‚ to gain those distinctive advantages. Through knowledge‚ people get better jobs‚ higher compensation and more wealth. Knowledge is a key-driver for people
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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
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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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