Advanced Materials Science Research

Philosophy Of Accounting

 Accounting philosophy is the conceptual framework for professional Financial Statements and Accounts preparation and audit. The standards and laws required to meet investors, employees, and other stakeholders' political needs. The purpose of financial reporting is to provide information on the financial performance of the firms that the firm uses to record past transactions and to apply changes to the future financial plan. Accounting discipline insists that transparency can be achieved. Fairness has an important part to play in accounting practice. It seems appropriate, therefore, that philosophy is well considered as a relevant way of understanding the truth and fairness in accounting. Thus concepts such as fairness, justice, fairness, and truth have a proper place in accounting. IFRS 'mission is to bring transparency, accountability, and effectiveness to the global financial markets. It aims to build trust in society and also provide financial stability in the long term.  

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