Saturday, February 15, 2020

FINANCIAL REPORTING & ANALYSIS of IASB Conceptual Framework for Essay

FINANCIAL REPORTING & ANALYSIS of IASB Conceptual Framework for Financial Reporting - Essay Example The framework can help the users of the conceptual framework in interpreting and analyzing the information existing within the financial statement as it provides an in-depth understanding of the principles on the basis of which the framework is produced. In theoretical concept the conceptual framework will provide development in the accounting standard. But in practical the economic, social and political factors play a vital role in influencing the assistance that is provided by the standards. The various requirements of the regulators of capital market and the reaction or response of the public towards the accounting issues and the situation of credit crunch which began in the year 2007 will generally influence the process of standard setting (Kabalski, 2009). The framework that is developed for the preparation of financial statements includes the recognition, definition and measurement of the various elements on the basis of which the financial statements are developed, the objective for preparation of financial statements and the concept of capital maintenance (Horngren, 1985). The Financial Accounting Standard Board and the International Accounting standard board have developed a conceptual framework for the purpose of financial reporting. The main objective of introducing this framework understands the concept, the scope and characteristics that the entity is required to apply or adopt. Before the convergence of the accounting standards the accountants had to face many difficulties due to the differences in the standard provided by the FASB and IASB. The criticism for conceptual framework is based on the epistemological and ontological hypothesis. Accounting is mainly based on the notion that is subjective in nature Example is the accountants generally play an important role in selecting proper accounting method and then applying them. Therefore

Sunday, February 2, 2020

Professional Organizations Essay Example | Topics and Well Written Essays - 250 words

Professional Organizations - Essay Example AACN members are virtually found in every institution ranging from progressive care units, home health and primary care settings, traditional care units, cardiac and surgical units. Members enjoy an array of benefits. First, they get up-to-date information on the constantly dynamic nursing profession. This transforms knowledge based experts into flexible health providers. They also have access to award winning publications such as peer reviewed journals, popular magazines and electronic newsletter in digital and print media. The information is critical for understanding complex elements within the nursing profession. Through the organization, nurses can validate their expertise using various certification programs offered through E-learning education courses (AACCN, 2014). Most importantly, the organization creates a platform of online connection of nurses around the world. This promotes sharing of knowledge, comparison and critical decision making. The final decision to join AACN at a later stage of my profession development remains critically based on the career match it has with my interest. Furthermore, the organization creates a global network of professionals that can advance my knowledge to a greater