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Conceptual Framework, Concept Conflicts, and Accounting Judgement

11th Grade · UK A-Level

8 lessons

Goal

Critically evaluate conflicts between accounting concepts, navigate professional judgement, and apply concepts to produce a true and fair view.

8 lessons
0 of 8 done
  1. Accounting Concepts, Conventions, and Year-End AdjustmentsUp next
  2. Resolving Conflicts: Historical Cost versus Prudence and Fair ValueNot started yet
  3. Resolving Conflicts: Accruals versus Prudence in Revenue RecognitionYou are here
  4. Resolving Conflicts: Consistency versus Relevance of Accounting Policy ChangesNot started yet
  5. The IASB Conceptual Framework: Fundamental and Enhancing CharacteristicsNot started yet
  6. True and Fair View and Professional Accounting JudgementNot started yet
  7. Impact of Concept Misapplication: Creative Accounting and Window DressingNot started yet
  8. Comprehensive Accounting Concepts Case Study SynthesisNot started yet
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Learning standards covered

gbACC-5.1General Certificate of Education Advanced Level (UK A-Level) · Accounting · 11th Grade

general accounting concepts including money measurement, duality, cost, going concern, accruals, consistency, prudence, materiality, realisation and business entity

gbACC-5.2General Certificate of Education Advanced Level (UK A-Level) · Accounting · 11th Grade

the use of accounting concepts in a variety of situations including the preparation of financial statements, asset valuation, depreciation of non-current assets, and inventories using cost or net realisable value as the basis of valuation