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BASIC ASPECTS CONCERNING THE SINGLE CONCEPTUAL FRAMEWORK

Studies and Scientific Researches: Economics Edition

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Field Value
 
Title BASIC ASPECTS CONCERNING THE SINGLE CONCEPTUAL FRAMEWORK
 
Creator Breahna Pravat, Ionela Cristina
 
Subject accounting; globalization; conceptual framework; financial information, IASB; FASB
M41
 
Description Following the creation of a set of concepts, principles and generally accepted international accounting conventions, to which any elaboration, interpretation or enforcement of accounting and financial information would refer, IASC (later IASB) has developed, in 1989, the Framework for the Preparation and Presentation of Financial Statements that, although inspired from the American one, didn’t address predominantly only to a single category of users (investors), but several categories of representatives of accounting information demand. Nowadays, it is now known that international body of accounting normalization - IASB (International Accounting Standards Board), cooperates with the American body - FASB (Financial Accounting Standards Board) for the purpose of developing a Single Conceptual Framework, which is an important phase in strengthening current and future international accounting standardization process. Conceptual Framework for Financial Reporting, published in September 2010 by the IASB, replaced the Framework for the Preparation and Presentation of Financial Statements issued in 1989 and is actually the result of the current process of updating the General framework of the IASB, but also represents the completion of an important stage in the process to develop a single conceptual framework.
 
Publisher Vasile Alecsandri University of Bacau
 
Date 2013-12-15
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
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Format application/pdf
 
Identifier http://sceco.ub.ro/index.php/SCECO/article/view/225
 
Source STUDIES AND SCIENTIFIC RESEARCHES. ECONOMICS EDITION; No 18 (2013)
STUDII SI CERCETARI STIINTIFICE. SERIA STIINTE ECONOMICE; No 18 (2013)
2344-1321
2066-561X
 
Language eng
 
Relation http://sceco.ub.ro/index.php/SCECO/article/view/225/193