IDEAS home Printed from https://ideas.repec.org/a/bla/abacus/v39y2003i3p279-297.html
   My bibliography  Save this article

An Evolving Conceptual Framework?

Author

Listed:
  • Graeme W. Dean
  • Frank L. Clarke

Abstract

The history of the conceptual framework (CF) exercise indicates more a search for a rationale for current practice than a re‐affirmation of the legal, social and economic (especially financial) framework within which accounting is to function, and the necessary shape of a compatible system of accounting. Interestingly, issues similar to those presaging the formation of the American Institute of Certified Public Accountants’ Wheat and Trueblood Committees (antecedents of the formation of the Financial Accounting Standards Board in 1973 and its CF project in 1976) are evident again today. Such events led to a reconsideration of the effectiveness of CFs in their current form as ‘constitutions’. Arguably, the framework of concepts underpinning ordinary, everyday commerce is the CF of accounting. The quest for a unique constitution‐based CF of accounting, independent of observables, has been misplaced, insofar it is unnecessary. Arguably, if more attention had been given to the function of accounting the futility of the CF exercise could have been avoided.

Suggested Citation

  • Graeme W. Dean & Frank L. Clarke, 2003. "An Evolving Conceptual Framework?," Abacus, Accounting Foundation, University of Sydney, vol. 39(3), pages 279-297, October.
    • Handle: RePEc:bla:abacus:v:39:y:2003:i:3:p:279-297
    DOI: 10.1111/j.1467-6281.2003.00133.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1467-6281.2003.00133.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1467-6281.2003.00133.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Stewart Jones & Peter W. Wolnizer, 2003. "Harmonization and the Conceptual Framework: An International Perspective," Abacus, Accounting Foundation, University of Sydney, vol. 39(3), pages 375-387, October.
    2. Susan Newberry, 2003. "Reporting Performance: Comprehensive Income and its Components," Abacus, Accounting Foundation, University of Sydney, vol. 39(3), pages 325-339, October.
    3. R. G. Walker & Stewart Jones, 2003. "Measurement: A Way Forward," Abacus, Accounting Foundation, University of Sydney, vol. 39(3), pages 356-374, October.
    4. Michael E. Bradbury, 2003. "Implications for the Conceptual Framework Arising From Accounting for Financial Instruments," Abacus, Accounting Foundation, University of Sydney, vol. 39(3), pages 388-397, October.
    5. Chambers, Rj, 1963. "Why Bother With Postulates," Journal of Accounting Research, Wiley Blackwell, vol. 1(1), pages 3-15.
    6. Janice A. Loftus, 2003. "The CF and Accounting Standards: The Persistence of Discrepancies," Abacus, Accounting Foundation, University of Sydney, vol. 39(3), pages 298-309, October.
    7. John Staunton, 2003. "A Statement of Accounting Concepts for Level 1 of the Conceptual Framework?," Abacus, Accounting Foundation, University of Sydney, vol. 39(3), pages 398-414, October.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Parmod Chand & Lorne Cummings, 2008. "The Political and Unstable Nature of the IASB's ‘Stable Platform’: Post-Convergence Australian Experience," Australian Accounting Review, CPA Australia, vol. 18(3), pages 175-184, September.
    2. Malcolm Anderson, 2004. "Accounting history publications 2003," Accounting History Review, Taylor & Francis Journals, vol. 14(2), pages 209-215.
    3. Michael Bromwich & Richard Macve & Shyam Sunder, 2010. "Hicksian Income in the Conceptual Framework," Abacus, Accounting Foundation, University of Sydney, vol. 46(3), pages 348-376, September.
    4. Rolf Uwe Fülbier & Joerg‐Markus Hitz & Thorsten Sellhorn, 2009. "Relevance of Academic Research and Researchers' Role in the IASB's Financial Reporting Standard Setting," Abacus, Accounting Foundation, University of Sydney, vol. 45(4), pages 455-492, December.
    5. Graeme Dean, 2008. "Editorial," Abacus, Accounting Foundation, University of Sydney, vol. 44(3), pages 1-1, September.
    6. Allan Barton, 2005. "Professional Accounting Standards and the Public Sector—a Mismatch," Abacus, Accounting Foundation, University of Sydney, vol. 41(2), pages 138-158, June.
    7. David B. Sutton & Carolyn J. Cordery & Tony Zijl, 2015. "The Purpose of Financial Reporting: The Case for Coherence in the Conceptual Framework and Standards," Abacus, Accounting Foundation, University of Sydney, vol. 51(1), pages 116-141, March.
    8. El-Tawy, Nevine & Tollington, Tony, 2013. "Some thoughts on the recognition of assets, notably in respect of intangible assets," Accounting forum, Elsevier, vol. 37(1), pages 67-80.
    9. Sheila Ellwood & Sue Newbury, 2006. "A bridge too far: a common conceptual framework for commercial and public benefit entities," Accounting and Business Research, Taylor & Francis Journals, vol. 36(1), pages 19-32.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Janice A. Loftus, 2003. "The CF and Accounting Standards: The Persistence of Discrepancies," Abacus, Accounting Foundation, University of Sydney, vol. 39(3), pages 298-309, October.
    2. Guilherme Belloque & Martina K Linnenluecke & Mauricio Marrone & Abhay K Singh & Rui Xue, 2021. "55 years of Abacus: Evolution of Research Streams and Future Research Directions," Abacus, Accounting Foundation, University of Sydney, vol. 57(3), pages 593-618, September.
    3. El-Tawy, Nevine & Tollington, Tony, 2013. "Some thoughts on the recognition of assets, notably in respect of intangible assets," Accounting forum, Elsevier, vol. 37(1), pages 67-80.
    4. Stewart Jones & Sheikh F. Rahman & Peter W. Wolnizer, 2004. "Accounting Reform in Australia: Contrasting Cases of Agenda Building," Abacus, Accounting Foundation, University of Sydney, vol. 40(3), pages 379-404, October.
    5. Graeme Dean, 2010. "Background and Case for Exit Price Accounting," Abacus, Accounting Foundation, University of Sydney, vol. 46(1), pages 84-96, March.
    6. Rolf Uwe Fülbier & Joerg‐Markus Hitz & Thorsten Sellhorn, 2009. "Relevance of Academic Research and Researchers' Role in the IASB's Financial Reporting Standard Setting," Abacus, Accounting Foundation, University of Sydney, vol. 45(4), pages 455-492, December.
    7. Nicholas Pawsey & Lin Crase, 2013. "The Mystique of Water Pricing and Accounting," Economic Papers, The Economic Society of Australia, vol. 32(3), pages 328-339, September.
    8. Steinar Sars Kvifte, 2008. "Revisiting the Concepts: Time to Challenge the Asset-Liability View," Australian Accounting Review, CPA Australia, vol. 18(1), pages 81-92, March.
    9. repec:dau:papers:123456789/2165 is not listed on IDEAS
    10. Hanno Merkt, 2014. "Das IFRS Conceptual Framework aus regelungsmethodischer Sicht," Schmalenbach Journal of Business Research, Springer, vol. 66(5), pages 477-504, August.
    11. David B. Sutton & Carolyn J. Cordery & Tony Zijl, 2015. "The Purpose of Financial Reporting: The Case for Coherence in the Conceptual Framework and Standards," Abacus, Accounting Foundation, University of Sydney, vol. 51(1), pages 116-141, March.
    12. Brian Booth, 2003. "The Conceptual Framework as a Coherent System for the Development of Accounting Standards," Abacus, Accounting Foundation, University of Sydney, vol. 39(3), pages 310-324, October.
    13. Jens Wüstemann & Sonja Wüstemann, 2010. "Why Consistency of Accounting Standards Matters: A Contribution to the Rules‐Versus‐Principles Debate in Financial Reporting," Abacus, Accounting Foundation, University of Sydney, vol. 46(1), pages 1-27, March.
    14. Bryce, Mitchell & Ali, Muhammad Jahangir & Mather, Paul R., 2015. "Accounting quality in the pre-/post-IFRS adoption periods and the impact on audit committee effectiveness — Evidence from Australia," Pacific-Basin Finance Journal, Elsevier, vol. 35(PA), pages 163-181.
    15. Mala, Rajni & Chand, Parmod, 2015. "Commentary on phase A of the revised conceptual framework: Implications for global financial reporting," Advances in accounting, Elsevier, vol. 31(2), pages 209-218.
    16. Francisco Sousa Fernandez & María Mercedes Carro Arana, 2011. "Eps Differences Using Different Earnings Measurement Methods Evidence From Spain," Global Journal of Business Research, The Institute for Business and Finance Research, vol. 5(4), pages 69-81.
    17. Stewart Jones & Alison D. Higgins, 2006. "Australia's switch to international financial reporting standards: a perspective from account preparers," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 46(4), pages 629-652, December.
    18. Bischof, Jannis & Ebert, Michael, 2007. "Inconsistent measurement and disclosure of non-contingent financial derivatives under IFRS : a behavioral perspective," Papers 07-02, Sonderforschungsbreich 504.
    19. Rajat Deb & Mukesh Nepal & Sourav Chakraborty, 2023. "IFRS and Audit Quality: A Systematic Literature Review," Management and Labour Studies, XLRI Jamshedpur, School of Business Management & Human Resources, vol. 48(1), pages 118-138, February.
    20. Neil Fargher & Baljit K. Sidhu & Ann Tarca & Warrick van Zyl, 2019. "Accounting for financial instruments with characteristics of debt and equity: finding a way forward," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 59(1), pages 7-58, March.
    21. R. G. Walker & G. R. Oliver, 2005. "Accounting for expenditure on software development for internal use," Abacus, Accounting Foundation, University of Sydney, vol. 41(1), pages 66-91, February.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:abacus:v:39:y:2003:i:3:p:279-297. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0001-3072 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.