The “Conceptual Framework for Public Accounts” sets out the principies applicable to all government units within the CNOCP's jurisdiction. It sets out the concepts underlying the accounting standards applicable to government units. These elements of accountings “doctrine” should be viewed in the context of the French legal framework, including the Constitution wich sets out quality requirements for general government accounts. The “Conceptual Framework for Public Accounts” is not a standard. It provides the public sector standard-setter (CNOCP) with a basis for determing the cicurmstances in wich it is appropriate to adopt or adapt a rule applicable to business entities or whether an innovative conceptual approach is required to reflect the specific features of public action in the financial statements.
The Public Sector Accounting Standards Council