Posts Tagged accounting information
Conceptual Framework For Financial Accounting
Conceptual framework can be defined as a constitution. It is an organized pattern of interconnected objectives and basic principles. It determines the nature, limits and purpose of financial accounting. It also deals with theoretical and conceptual issues, surrounding financial accounting and building logical and consistent foundation that justifies accounting standard. It outlines the grounds for determining how a transaction should be represented to the intended users. For example: Asset should be recorded at historical cost or market value.
Scope of Accounting
Management Accounting and Cost Accounting
Management or cost accounting is a management information system which analysis data to provide information as a basis for managerial action. The concern of a management accountant is to present accounting information in the form most helpful to management.