priyanka
26-11-07, 04:26 AM
The Framework of accounting:
1. States the concepts that underlie the preparation and presentation of financial statements (FS)
2. Is concerned with general purpose FS
3. Is so fundamental that they apply irrespective of the accounting model selected.
The framework is not itself an international accounting standard
1. States the concepts that underlie the preparation and presentation of financial statements (FS)
2. Is concerned with general purpose FS
3. Is so fundamental that they apply irrespective of the accounting model selected.
The framework is not itself an international accounting standard