Foundational perspectives on conceptual frameworks for accounting standards: advancing toward a meta-framework

Purpose This study aims to examine the conceptual fragmentation within the International Accounting Standards Board (IASB) Conceptual Framework (CF) by investigating the interrelationships among three fundamental accounting choices: accounting approaches (balance sheet vs. income statement), capital maintenance concepts (financial vs. physical), and measurement bases (historical cost vs. current value). It aims to develop a comprehensive meta-framework that integrates these elements through broader foundational perspectives. Design/methodology/approach Adopting a normative methodology, the study synthesizes existing theoretical debates and formalizes alternative accounting positions. Through logical analysis, it identifies consistent configurations among the three accounting choices and organizes them into three overarching foundational perspectives: market, entrepreneurial, and institutional. Findings The research demonstrates that coherent links exist among accounting approaches, capital maintenance, and measurement bases. These are structured into three foundational perspectives, each representing a distinct accounting philosophy aligned with different stakeholder needs and epistemological views. The study proposes a meta-framework that integrates these perspectives to enhance conceptual coherence and regulatory flexibility. Research limitations/implications The study is theoretical and lacks empirical validation. Further research is needed to test the applicability of the meta-framework across diverse institutional and cultural contexts and to empirically assess the role of the institutional perspective in CFs. Practical implications The framework helps standard setters, policymakers, and managers tailor accounting practices and regulations to varied stakeholder interests and organizational contexts, improving transparency and relevance in financial reporting. Originality/value The study introduces a novel meta-framework that reinterprets foundational accounting choices through integrated perspectives, offering a more pluralistic and inclusive vision for CFs.