CONCEPTUAL FRAMEWORK

Note: I am usure how to make this reviewer kasi need maglaan ng time para at least balikan nang konti
yung lesson eh I somehow lack the time. So ang ginawa ko rito is konting summary nung lesson, some
important notes or at least bullet poits nung mga mahahalagang points plus notes kung saan tayo
titingin and some comparisons of the reviewers. So ang binasehan ko rito is yung softcopies na binigay ni
Miss which is yung handout and isang ppt. Attached naman here sa same forlder yung mga files.

Tip: Use this reviewer pwede sa start niyo ng pag-aaral para alam niyo yung coverage and kung saan
kayo titingin. And after niyo aralin yung buong lesson, kaharap niyo ulit tong summary na ‘to tas ditto
niyo i-review yung naaral niyo.

 So ang unang pwedeng pinakatandaan dito sa conceptual framework is yung inverted pyramid
kasi dun lang naman talaga iikot yung contents. So di ba three levels yun. Starting with the
objectives then qualitative characteristics of the framework plus elements (ALORE) and the third
level is the recognition, measurement and disclosure concepts.
 You can also go over the meaning of conceptual framework.
 Quick Notes on Level 1/The Why of Accounting
Tip: Memorize this one. Pinamemorize to ni Miss last time.

Keywords: useful information about the reporting entity, then the specified users of accounting
information

Others: See the ppt for other info. Para mas maappreciate natin, reiterate ko lang itong flow ng
objectives: useful accounting information  users of accounting information  decision making
process of the users

 Quick Notes on Level 2/The Bridge for the Why and How of Accounting
Provide na lang ako ng bulleted notes for this one. Pero ang tip here is go over the whole level
then memorize niyo lang kung saan belong or saan naka-ilalim yung mga concepts.

So dito sa qualitative characteristics, ang purpose nito is mafilter yung accounting information
sa kung alin ba ang makakatulong sa decision making ng users at alin ang less useful or kung alin
ang hindi naman useful. Both the handout and the ppt provided good definitions nung mga
characteristics and Im sure maaappreciate niyo ulit siya once you go over it.

Sa ALORE naman, edi medj imemorize or ifamiliarize niyo yung definition nung elements kasi
yung pagkakaconstuct ng definition nila as given dito is aligned sa kung ano yung role nila dito sa
conceptual framework.

See also: Slide 14 ng ppt, may graph dun na nagpapakita ng hierarchy nung characteristics

The tip here is to really read and understand the meaning para mas madali siya iretain. Ang tip
din siguro para maappreciate to is yung Makita yung connectedness ng bawat level sa bawat isa
and dun sa framework as a whole. Iikot lang naman siya talaga dun sa objective.

 Quick Notes on Level 3/The How of Accounting

Same as the previous one, provide na lang ng bulleted notes on this one. For better
understanding, may samples dun sa ppt, you can look it over.
The assumptions underlie the financial accounting structure. The principles are used to report
and record transactions. And the constraint, from the word itself, limits the reporting. May mas
maayos ng presentation nitong third level sa ppt so check it out.

Kung makikita niyo pa sa notes niyo, nag-discuss si Miss ng elaboration ng cost. Historical cost
versus market value ata iyon. I-follow up ko kapag nakita ko yung notes ko.

SEE ALSO:

-Introduction ng IASB and elaboration ng objectives niya (handout)

-Accounting Process (handout)
//maganda rin tong part na to so read it din, magandang guide sa BABE 2
-Global Accounting Insights
//di naman natin to masyado nadaanan pero may pahapyaw siya and comparisons ng
global standard bodies pero better na kahit di na muna yon masyado pasadahan hehez