publication . Article . 2014

An analysis of fundamental concepts in the conceptual framework using ontology technologies

Alta van der Merwe; Marthinus C. Gerber; Aurona Gerber;
Open Access English
  • Published: 29 Aug 2014
  • Publisher: University of Pretoria
Abstract
<jats:p>The interpretation of financial data obtained from the accounting process for reporting purposes is regulated by financial accounting standards (FAS). The history and mechanisms used for the development of ʻThe Conceptual Framework for Financial Reporting’ (the Conceptual Framework) as well as the financial accounting standards resulted in impressive volumes of material that guides modern financial reporting practices, but unfortunately, as is often the case with textual manuscripts, it contains descriptions that are vague, inconsistent or ambiguous. As part of the on-going initiatives to improve International Financial Reporting Standards (IFRS), the In...
Subjects
free text keywords: accounting ontology, formal ontology, financial accounting standards, conceptual framework, knowledge representation, Management. Industrial management, HD28-70, HF5001-6182, Economics as a science, HB71-74, Accounting management, Knowledge management, business.industry, business, Balance sheet, Management, Computer science, The Conceptual Framework, Accounting information system, Financial accounting, International Financial Reporting Standards
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