Part I - PRELIMINARIES
PART II - ACCOUNTING PRINCIPLES AND ASSUMPTIONS
PART III - ACCOUNTING PROCESS

Frameworks

Developing a concept is more abstract than drawing a physical layout, or explaining a series of steps, in part because a concept has no physical characteristics to help visualize an object beyond words. However, there are similarities. A conceptual framework has a purpose, much like physical frameworks, and it has important components that help achieve the purpose. It also establishes relationships between components, in the same manner that components of a physical structure support other components, adding strength to the whole structure. The strength of a conceptual framework lies in its usefulness in helping accountants exercise better judgments.

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