Financial accounting and the need for a conceptual framework
Mala, R. and Chand, P. 2015. Commentary on Phase A of the Revised Conceptual Framework: Implications for Global Financial Reporting. Advances in Accounting, 31 2, pp.209-218. Whittington, G. 2008. Good The Need for a Revised Conceptual Framework Essay Example, Free Essay Examples - WowEssays.com, The conceptual framework is a set of interrelated objectives and fundamentals. The objectives identify the goals and purposes of financial reporting and the fundamentals are the underlying concepts that help achieve these objectives. These concepts provide guidance in selecting transactions, events, and circumstances. The conceptual framework is a set of interrelated objectives and principles. The objectives identify the goals and purposes of financial reporting and the fundamentals are the underlying concepts that help achieve these objectives. These concepts provide guidance when selecting transactions, events and circumstances,