Financial Accounting Conceptual Framework (Financial Accounting Tutorial #12)

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In this video I go over what is known as the "Conceptual Framework." It basically is a system made up of objectives, elements of financial accounting and principles and constraints. I give a brief analogy to contrast between my metaphor of our symbolic "society" and the conceptual framework.
Basically the objectives are our fundamentals of financial accounting. Elements let us express the financial information while the principles and constraints make sure that we don't deviate outside of safe/legit accounting (avoiding fraud).
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[@nenek.3886]

Thank you for this video. I just started intermediate accounting at an online university and I only have 3 days to read and understand the two chapters. This is really helping me understand the concept.

[@hannahbossie3424]

Love the color-coding, great for a visual learner like me!

[@kaanyildiz2826]

Same here! 😄

[@leiseeharper1637]

Same for me as well

[@nicholaschen5821]

That is a very good video, but in this video, i didnt fix out my question. I really want to know what is the relationship between conceptual framework and financial accounting. I am still confusing right now. I hope you can give me a hand about that. Thanks

[@firstnamelastname789]

best research tool on the Web

[@PurelyDef]

Khan Academy is great but they really dont have much on accounting. As someone taking acct 101, you are a godsend

[@CallumHowardFitness]

Great Video!

[@NotepirateDave]

Thanks for watching!

[@Tsheponition]

Awesome video man...officially subcribed to your channel

[@irisliew89]

awesome. Thanks you so much.

[@roefarm8142]

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