A Literature Review of the Accounting Theory and the Conceptual Framework of Financial Accounting Standards Board
Subject Areas : Ethics and accounting
1 - Ph.D., Department of Accounting, Faculty of Financial Sciences, Kharazmi. University, Tehran, Iran
Keywords: Accounting Theory, Financial Accounting Standards Board, Accounting Standards, Financial Accounting,
Abstract :
Purpose: The purpose of the present study is to review the effect of the accounting theory on the conceptual framework and its consequences.Method: The research method is historical cognition within the framework of library studies and it is considered a theoretical-analytical research based on other studies related to the subject.Results: Accounting theory has had an important effect on the conceptual framework and accounting theorists such as Charles Sprague, Henry Rand Hatfield, William Paton, A. C. Littleton, George O. May, Maurice Moonitz, George Sorter, and Robert Sprague have had a significant role in this regard. The conceptual framework is often regarded as the output of a technocrat process but the impact of accounting theorists on the conceptual framework is evident. Accounting procedures and standards affect the behavior of corporations, governments, and individuals. Therefore, it is important to know how the process of standards formation, from dependence to accounting theory until the next stage of formation of accounting standards based on conceptual framework and the significance of this change, is developed. Conclusion: Although the main purpose of the conceptual framework is to expand a series of concepts and principles to compile accounting standards, decreasing variation in accounting procedures and moving towards integrity within widespread layers can be regarded as some other objectives in this field.
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