This book is written in a methodical manner, outlining the principles, procedures, and reasons, among other things. The accounting theory provides a road map that may be followed to accurately maintain books and report on financial facts. This book offers a very starting to understand for gaining a knowledge not only of accounting data, but also of the choices that have been taken by the staff who were responsible for charge of acquiring and analysing that data. Not only does it provide an understanding of accounting data, but it also provides an understanding of the choices that were taken. This book is a theoretical exploration of accounting. This book examines the conceptual elements of accounting concepts and explains how those features may be successfully employed in practice. Conceptual Issues in an Economic and Political Setting is a book that identifies the conceptual aspects of financial accounting. After providing a historical perspective on accounting standards, the book continues with an important assessment of accounting and financial difficulties in economic and political situations. Students get a strong conceptual foundation as a basis for further developing their grasp of finance and accounting as a result of this.