Unified Field of Accounting Essay - 884 Words

Unified Field of Accounting Accounting is generally regarded as a mathematical discipline founded on mathematics. However, as the unified field chart created by Maharishi University of management shows, accounting is a Multi-layered discipline founded in the unified field of natural law. Maharishi explains that cosmic intelligence, absolute intelligence of Natural Law, displaying its infinite managing power in the orderly administration of the ever-evolving, ever-expanding universe. - Yogi, M. M. This absolute intelligence is the foundation of the 6 levels of the Unified Field chart [1] of accounting. It all begins in the unified field where the feedback loop completeness and steps to success are formed followed by the creation of the†¦show more content†¦The members of society are sporadic, the transactions arent defined and the information about the transactions are rough and without form. [1] The conceptual framework of accounting is made up of entities, measurement proce sses and the objectives and characteristic of the information needed. With the accounting of transactions economic entities are defined and measurement processes are created and the information required is clarified. Once a need and recognition of the value of information was acknowledged the need for a conceptual framework of accounting came into being. Once the conceptual framework is created a need for rules and laws that enforce the standards, principles, and codifications are formulated to meet the needs of the economic entities. [1] The rules and laws created to structure the conceptual framework are created by government, professional associations, and guiding organizations. These organizations help formulate processes that create the rules and laws that focus the conceptual framework towards the needs of society. This begins with the formation of guiding organizations such as the SEC and the formulation of processes such as legislative due process. The fourth level ends with the formulation of rules and laws such as standards, principles, codifications, statues, interpretations, and regulations. When the process of accounting andShow MoreRelatedUs Accounting Standards vs. International Accounting Standards1742 Words   |  7 PagesUnited States Accounting Standards vs International Accounting Standards June 21, 2009 Introduction This research project will inform the reader of the difference between the United States accounting standards and International accounting standards. The United States uses the Financial Accounting Standards Board (FASB) to issue financial reporting procedures. 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