The IASB Conceptual Framework, the Nature of the Accounting Standards - Dissertation Example

The paper "The IASB Conceptual Framework, the Nature of the Accounting Standards" is a great example of a finance and accounting dissertation. This paper examines the IASB Conceptual Framework, the nature of the accounting standards, its changes over time and its influence in enhancing the quality of financial information through ensuring transparency in the preparation procedure of various financial statements. The International Accounting Standards Board (IASB) is one of the biggest formulators of independent accounting standards that are aimed at helping firms improve the quality and standard of their financial reporting. The IASB conceptual framework has revolutionized the accounting field by enhancing important aspects in accounting that has influenced the entire spectrum of stakeholders including the users of financial information, the accounting profession, the finance providers, the investors and all the other stakeholders that interact with accounting information. The existing, revised conceptual framework has been in operation since 2010. This research seeks to provide a comprehensive understanding of the (IASB) and its working procedure and especially the IASB conceptual framework. Further, this research will focus on the financial standards that guide the development and changes of the IASB Conceptual Framework and the effect of these changes in the business firms globally. This paper also seeks to look into ways of improving the capability of obtaining successful financial information in order to derive appropriate outcomes. Determining the usefulness and value of financial reporting information requires the comprehension and assessment of measurement as well as the recognition criteria of selecting various financial

The IASB is the standard-setting body IFRS, which its main purpose is to develop and promote IFRS. Therefore, the IFRS Foundation and the IASB are responsible for the development of a single set of high quality, comprehendible, enforceable and globally accepted IFRS that are vividly created on articulated principles.