Public learning track
Conceptual Framework, Concept Conflicts, and Accounting Judgement
8 lessons
Goal
Critically evaluate conflicts between accounting concepts, navigate professional judgement, and apply concepts to produce a true and fair view.
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Accounting Concepts, Conventions, and Year-End Adjustments
8 lessons
0 of 8 done
- Accounting Concepts, Conventions, and Year-End AdjustmentsUp next
- Resolving Conflicts: Historical Cost versus Prudence and Fair ValueNot started yet
- Resolving Conflicts: Accruals versus Prudence in Revenue RecognitionNot started yet
- Resolving Conflicts: Consistency versus Relevance of Accounting Policy ChangesNot started yet
- The IASB Conceptual Framework: Fundamental and Enhancing CharacteristicsNot started yet
- True and Fair View and Professional Accounting JudgementNot started yet
- Impact of Concept Misapplication: Creative Accounting and Window DressingNot started yet
- Comprehensive Accounting Concepts Case Study SynthesisNot started yet
Standards Covered
- ACC-5.1General Certificate of Education Advanced Level (UK A-Level) · Accounting · Year 13 (A2 Level) · Grade 11general accounting concepts including money measurement, duality, cost, going concern, accruals, consistency, prudence, materiality, realisation and business entity
- ACC-5.2General Certificate of Education Advanced Level (UK A-Level) · Accounting · Year 13 (A2 Level) · Grade 11the 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
Curriculum Framework
11th Grade · UK A-Level
1
6 lessons
Foundational Accounting Assumptions and Measurement Principles
Understand and apply the foundational assumptions and valuation principles governing financial records, entity definition, and transaction timing.
2
6 lessons
Accounting Conventions and Qualitative Reporting Standards
Apply key accounting conventions and qualitative reporting principles to ensure prudent, consistent, and economically faithful financial statements.
3
8 lessons
Applying Accounting Concepts to Asset and Inventory Valuation
Apply accounting concepts to non-current asset capitalisation, depreciation schedules, inventory valuation, and working capital adjustments.
4
8 lessons
Conceptual Framework, Concept Conflicts, and Accounting Judgement
Critically evaluate conflicts between accounting concepts, navigate professional judgement, and apply concepts to produce a true and fair view.