Original Articles

South African Statements of Accounting Practice as Part of a User-oriented Framework

Published in: De Ratione
Volume 3 , issue 1 , 1989 , pages: 20–26

DOI: 10.1080/10108270.1989.11435003

Author(s): J.A. Miller University of Natal-Durban,

Keywords: Frameworks and standards , Conflict between frameworks and standards , Functions of accounting standards , Revisions to existing standards , Company law and standards , Recommended accounting practice , Accounting policies , Going concern , Prudence , Consistency

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Abstract

In this third and final article on a suggested Hierarchy of Objectives for Financial Reporting the author deals with Statements of Accounting Practice as the operational level thereof, implementing concepts and principles towards achieving the objectives defined. As a consequence the concepts of materiality and substance over form, the fundamental assumptions of going concern, matching and prudence, and the term “accounting policies” are reviewed within the context of a framework.

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