The Reason of Support Principle Based Conceptual Framework

 Essay within the Reason of Support Principle Based Conceptual Framework

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The reason of support basic principle based conceptual framework by simply Measurement uses conceptual platform to give a general idea that it offers the financial report to compare with companies in other countries easily. Lately, there are many international companies are staying operated in several countries. Diverse companies get their own circumstance; too many rules will cause difficulties in comparing the information of financial studies. It will reduce the foreign investor. Besides, too many rules could make it complex pertaining to company documentalist in planning financial reports. Therefore the conceptual framework of accounting should certainly use basic measurement to be able to let accountancy firm modulate accounting data in several situation.

Guide:

Conceptual Construction Phase C — Measurement, viewed by 26/03/2013

The reason of support principle based conceptual framework

As we know, the purpose of the conceptual framework is to provide a comprehensive structure to get accountants and organization to direct their particular behavior once dealing with the phases monetary accounting. It gives general guidelines and attributes that necessary in financial revealing these factors also provides a direction to get accountants and organization to behave correctly in preparing monetary statements by having this extensive framework. Accountancy firm can keep uniformity in their patterns even in the situation that accounting standards are absent. To some extent, the general principle might be more flexible and acceptable in different condition. Therefore , this ensures the ultimate outcome, financial statement data, are sufficient and adequate for your decision makers to create their financial decisions.

Reference:

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Conceptual Framework Phase C — Measurement, looked at by 27/03/2013...


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