Question

Difference between Conceptual Framework and Regulatory Framework?​

Answer 1

Answer:

A conceptual framework can be defined as a system of ideas and objectives that lead to the creation of a consistent set of rules and standards. Specifically in accounting, the rule and standards set the the nature, function and limits of financial accounting and financial statements.

Answer 2

A conceptual framework includes one or more formal theories (in part or whole) as well as other concepts and empirical findings from the literature. It is used to show relationships among these ideas and how they relate to the research study.

Regulatory Framework means the regulations, decisions, directives, regulatory policies, guidelines, recommendations and procedures made by the Authority from time to time including any revisions or amendments made to them; Sample 1. Sample 2.