An Analysis Of Ruth Dianne Hines And The Conceptual Frameworks

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Ruth Dianne Hines, born 1951 is an Australian Accounting academic based in the School of Economic and financial studies at Macquarie University from 1978-1994. The Conceptual Frameworks are ‘a strategic maneuver for providing legitimacy to standard-setting boards during periods of competition or threatened government intervention,’ Hines raised this argument in her 1989 journal ‘Financial Accounting Knowledge, Conceptual Framework Project and the Social Construction of the Accounting Profession’. In order to identify the basis of Hines’ argument, one must first take a look at what the Conceptual Framework (CF) is, as well as its purpose. Throughout this discussion, I will be examining – the need for a CF, the benefits and how it provides a legitimacy to the accounting profession. I will also be exploring both the local and international history of the CF projects that were undertaken, why they were undertaken and if these purposes relate to Hine’s argument. It is also possible to support Hine’s argument when we review the developmental history of the conceptual framework. The CF projects in the United Kingdom, the United States and Canada which are mentioned by Peasnell (1982) will demonstrate what tasks were undertaken and why they were undertaken. Basis Hines arguments The Conceptual Framework (CF) is not a standard or interpretation and does not override any specific standard or interpretation (CF discussion paper). A CF is a coherent system of inter-related objectives and fundamentals that should lead to consistent standards that prescribe the nature, function and limits of financial accounting and financial statements. The CF was formed with the intention of providing the backbone for principle-based accounting standards (... ... middle of paper ... ...ial nw projects to main the their proffesinalism and reduce the threat of government intervention Conclusion Hines also bases her argument on the basis that despite the apparent technical failures in the development of CFs, projects are still undertaken. What reason is there to continue with a time consuming project unless there is a proper agenda for this. The tasks was neither technical nor functional but a way to provide integrity to the accounting profession and provide a appearance of a strong, firm, professional financial body. The idea of the CF itself is… Through the number of projects undertaken, we can see that there was a push for the development of a proper financial body. From 1966, the first set of CFs were developed from the joint actions of the Australian Accounting Research Foundation (AARF) and the Public Sector Accounting Standards Board (PSASB)

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