BAC 200 Accounting For Assets
| Institution | University |
| Course | Bachelor of Commerce |
| Year | 2nd Year |
| Semester | Unknown |
| Posted By | Preston Junior Ayieko |
| File Type | |
| Pages | 80 Pages |
| File Size | 720.74 KB |
| Views | 5566 |
| Downloads | 1 |
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Description
A conceptual framework is like a constitution. It is a coherent system of interrelated objectives and fundamentals that can lead to consistent standards and that prescribe the nature, function and limits of financial accounting in financial statements. A conceptual framework is essential in that to be useful, standard setting should be built on and relate to an established body of concepts and objectives. In addition new and emerging practical problems should be quickly solved by reference to an existing framework of basic theory
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