Conceptual Framework

CEARC working paper 2: Towards a conceptual framework for co-operative accounting

Comments received on CEARC working paper 1 included the suggestion that a desirable first step in the development of an iSORP for co-operatives would be the enunciation of a conceptual framework for co-operative accounting. A conceptual framework which is internally consistent and which defines basic concepts can lead to accounting standards and SORPs which are principles-based and consistent with each other.

This working paper sets out a draft conceptual framework for co-operative accounting with a view to encouraging discourse on this topic. Following feedback and review, CEARC aims to publish a revised version.