ACF 353: INTERMEDIATE ACCOUNTING
Lesson 1: Regulatory and Conceptual Framewor
Department of Accounting and Finance
Clement Oppong, PhD
,Learning Outcomes
1. Identify the sources of regulation for accounting in Ghana
2. Explain the need for regulatory framework for accounting
3. Describe the standard setting process of the IASB
4. Describe the IASB’s conceptual framework of accounting
, Accounting Regulation
• Financial reporting is regulated and controlled.
• Countries have their own national laws and regulations for
financial accounting.
• Accounting standards issued by the International
Accounting Standards Board (IASB).
✓Regulation is required to ensure that relevant and
reliable financial reporting is achieved to meet the needs
of shareholders and other users.
✓Regulations sets the minimum disclosure requirements.
ACF 255/APY, KM, KA
,
Lesson 1: Regulatory and Conceptual Framewor
Department of Accounting and Finance
Clement Oppong, PhD
,Learning Outcomes
1. Identify the sources of regulation for accounting in Ghana
2. Explain the need for regulatory framework for accounting
3. Describe the standard setting process of the IASB
4. Describe the IASB’s conceptual framework of accounting
, Accounting Regulation
• Financial reporting is regulated and controlled.
• Countries have their own national laws and regulations for
financial accounting.
• Accounting standards issued by the International
Accounting Standards Board (IASB).
✓Regulation is required to ensure that relevant and
reliable financial reporting is achieved to meet the needs
of shareholders and other users.
✓Regulations sets the minimum disclosure requirements.
ACF 255/APY, KM, KA
,
