Financial statements and corporate accounts: the conceptual framework

Timothy Eccles (Kingston University, Kingston, UK)
Andrew Holt (Kingston University, Kingston, UK)

Property Management

ISSN: 0263-7472

Publication date: 1 December 2005



The unique characteristics of property are being recognised by those who create accounting standards. The purpose of this paper it to discuss the process by which standards are created and the opportunities for the involvement of property professionals, owners and users within the standard‐setting regime. In particular the paper seeks to draw attention to the shift towards International Accounting Standards.


The paper is an explanation and discussion of the UK standard‐setting regime.


The paper explains the UK standard‐setting regime, introducing the shift towards International Accounting Standards.

Research limitations/implications

The work explains the ideologies and principles forming the theoretical foundations of the conceptual framework of UK accounting. Specific issues are not discussed, and are the subject of further work by the authors.

Practical implications

It is imperative for the surveying profession and wider property owners to be involved with the creation of accounting standards in order to ensure that property issues are reflected within them. This paper establishes the basic framework to assist them to do this.


Property professionals have traditionally tended to have been overlooked or ignored the consultation processes to establish new accounting standards. The paper establishes a platform to encourage them to become more involved.



Eccles, T. and Holt, A. (2005), "Financial statements and corporate accounts: the conceptual framework", Property Management, Vol. 23 No. 5, pp. 374-387.

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Copyright © 2005, Emerald Group Publishing Limited

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