Inexplicable disadvantages of conceptual framework

Category: Education

Presentation Description

Know the limitations of conceptual frame work and get a clear idea. Also gain a perspective on why students need assignment help for conceptual framework-cf projects" For More Details :


Presentation Transcript

slide 1:

Inexplicable disadvantages of conceptual framework cf Conceptual Framework CF is a coherent system of inter-related objectives and fundamentals followed in financial accounting and financial reporting. It leads to consistent standards of accounting and prescribes the scopes and limitations of the same. CF was developed mainly in accounting practices. CF can act as a standard setting procedure and can be used to resolve disputes. CF helps to set the standard to build acceptable practices of preparing and presenting accounting information. Accounting Practices in UK and USA Various countries have their own conceptual framework for their accounting and financial services. In USA for instance the idea of CF started in 1940s. The Financial Accounting Standards Board FASB is the organization which has created the most advanced CF in the world. In the UK the Committee on Corporate Report 1975 concluded that all companies must conform to certain a number of specific characteristics of financial accounting. The Dearing Report 1987 and the Solomon’s Report 1988 harped on the importance of following a standard accounting principle for all the companies. Currently the Financial Reporting Council FRC is UK and Republic of Ireland’s independent regulator responsible for maintaining a standard of accounting practices.

slide 2:

Limitations of Conceptual Framework Conceptual Framework definitely sets the standards for accounting practices and principles. There are however some limitations:  First it is very difficult to set up. Countries which are rich and developed can have their conceptual framework but poor and developing nations can find it expensive and time consuming  Secondly CFs while providing the standard for accounting practices may lead to rigidity. It may be difficult to bring forward new ideas.  Thirdly conflict may arise between CF and the accounting standards followed prior to the introduction of Conceptual Framework.  Finally Conceptual Framework may not be acceptable to every party. It may only benefit only some interested groups identified as users. Why do students need help to write on conceptual framework Conceptual framework is related to accounting which is a vast disciplinary area and covers multiple topics. Each requires specialized knowledge which may not be readily available to students. Thus expert help is desirable for students to write on such topics. Are you looking for Assignment Help with 100 accuracy My assignment help .com have 3000+ Professional Writers are here to help with your Assignment Writing also provide 24×7 Online Support. How can help students is an assignment help service provider. We have a team of experts working on different academic areas. Some of them are professional accountants and have a vast knowledge in the field. They can help students to write a well-structured essay. Besides for help on writing your school and college essays too you can log on to the website pay the required sum of money and get the articles delivered right in your inbox.

authorStream Live Help