The development and importance of the conceptual framework in accounting to the international dimension

In the developing world order, new ideas and trends have emerged in many fields with the industrial revolution. The fields of accounting and finance have also found a place in this emergence in both literature and academic circles. With the importance of capital companies, concepts such as stakeholders, transparency, and accountability have become more important. International institutions and organizations are needed for the clear implementation of these concepts all over the world. In addition to international financial reporting standards, the FASB and IASB, two of the world's leading accounting organizations, have published a conceptual framework that serves as a guide. Both institutions have proposed different measurement and valuation criteria for the items that make up the elements of the financial statements for their accounting policies. For example, FASB examined the question of whether the purpose of financial reporting should be based solely on 'decision usefulness' or whether management should be treated as a separate purpose. With the harmonization work initiated by the IASB and the FASB in 2002, it proposes a useful target for decision making in the first part of the conceptual framework and argues that information about management evaluation will be included in this target. The first conceptual framework, published in 1989, was republished in 2010 as the "Conceptual Framework for Financial Reporting" by updating some parts of it due to the increasing need for economic and financial information. With the withdrawal of the FASB from the joint project with the IASB, the IASB reconsidered other parts that were not renewed in the conceptual framework published in 2010. He published the discussion text on the subject in 2013 and the standard text in 2015. It was published in 2018 in the final conceptual framework, which reconsidered all parts of the conceptual framework published in 1989 and the elements of the financial statement and presented it to the public. In this study, first of all, the historical development of accounting is discussed. Later, the organizations that shape the development of Accounting Standards are given under two headings as national and international. After the development of the accounting theory is given, the development and importance of the Conceptual Framework and its purpose are discussed in terms of FASB and IASB. The development processes of the conceptual frameworks published from 1989 to 2018 were evaluated in this context.