Accounting concept/framework/standard (1 Viewer)

[sandersen]

Am doing ACCT2011 and reading about the structure of the conceptual framework.

I'm confused about accounting framework, concepts and standards. Can anyone give a quick run down?

"In Australia from 2005 we will no longer be using the entire contents of the conceptual framework..."

"Part of the conceptual framework that was developed in Australia (specifically two statements of accounting concepts) have been replaced..."

"It needs to be emphasised that the Australian conceptual framework is not an accounting standard..."

Whaattttt??????

 

[sandersen]

Yeah, thanks though

Now there's just that essay to work out

 

[yren8514]

They just want to keep people busy I guess... I did not see any big difference