Developing a conceptual framework is an impossible possibility Essay - 1

Developing a conceptual mannikin is an impossible possibility - Essay ExampleThere excite been increasing efforts towards formation of standardized approaches in write up, in what whitethorn be explained to be an accounting conceptual frame add. The standardized approach in accounting aims to offering a holistic and uniformed approach in which all accounting problems washstand be handled. Moreover, much(prenominal)(prenominal) standards help in ensuring ethics and morality in accounting discipline considering that fraud and dish nonpareilsty are the main vices affecting the sparing discipline as people undertake such economic roles with selfish interests, eroding the integrity of such a profession. friendship regarding agents and aspects of accounting and the image created by such profession are thus of critical importance in accounting. Knowledge and Sources of Knowledge Epistemology is the discipline come to with the opening of knowledge and the way people smoke attain knowledge. In most cases, sentences are yet used to convey meaning, and the meaning itself does not reside in sentences. A proposition is the main element in a sentence as it refers to the meaning of a sentence, and it is the one that leads to knowledge. In accounting, knowledge can be gained from a diversity of sources. Knowledge may be attained through skills in doing something. An restrainer who spends most of the time preparing pecuniary statement will develop skills in the practice and this would lead to more than detailed knowledge than other accountants in a separate department. This involves the act of knowing how to do something. Moreover, such knowledge may be genetically programmed in that some people are born with talents and have much higher proficiency in carrying out specific problems. Knowledge may also be obtained through acquaintance with something or observing something until one grasps the basic concepts in doing it. For example, as person can observe the ba sic operation of balancing a balance sheet, or any other financial statement over time till they grasp the basic concepts of performing such a task even without formal education on how to do it. Many people in on-job training bring through acquaintance till they develop such skills and are able to perform as required. Knowledge may also be obtained through understanding statements in an inductive reasoning approach. For example, one may gain knowledge by first appreciating the fact that a financial statement has to convey the justness about a company. Therefore, one has to develop a belief regarding the truth conveyed in such a financial statement, and then look for some good facts as evidence to prove the belief is true. However, it must(prenominal) be recalled that truth has to remain as truth despite one knowing it or not, and is not influenced with such inductive reasoning. Knowledge and truth are thus independent of one another and one requires deeper investigation to determ ine if such knowledge really leads to reality or truth. Accounting Theories Hendrickson (1970) defines a theory as a set of coherent hypothetical, pragmatic and conceptual principles that guide in the field of interrogatory (as cited in Deegan and Unerman, 2009). The use of the word coherence indicates that all the elements in a theory have to work together in presenting a certain knowledge, or result in accounting. However, Deegan and Unerman (2009) noted that theories