The transition of fundamental accounting principles to the conceptual framework: a critical-reflective analysis

Objective: Adopting the International Financial Reporting Standards (IFRS) in Brazil in 2008 drove the convergence of national accounting standards with international ones, leading to the revocation of CFC Resolution No. 750/93 in 2016. This event raised questions regarding the fate of the fundamental accounting principles: were they eliminated or reformulated within the current conceptual framework? In this context, this study aims to conduct a critical-reflective analysis of the transition from the fundamental principles outlined in CFC Resolution No. 750/93 to the Conceptual Framework of CPC 00 (R2), investigating whether the essential elements of these principles were incorporated into the new normative structure. Methodology: This is a theoretical essay employing a historical, comparative, and interpretive approach, aiming to understand the normative evolution and its impact on accounting practice. The study relies on a literature review and an analysis of the changes introduced by CPC 00 (R2), considering its alignment with the international model and the implications of this reformulation for Brazilian accounting. Results: The analysis reveals that the fundamental principles were not eliminated but reconfigured within the Conceptual Framework. Concepts such as entity, going concern, accrual basis, and measurement remain present, while prudence was initially removed in 2018 under the notion of cautious prudence. However, replacing explicit guidelines with a more interpretative framework has expanded the scope for subjective judgment and required greater conceptual understanding from accounting professionals. Contributions of the Study: This study demonstrates that the normative transition significantly changed how principles guide accounting practice. Although aligned with international standards, the new framework has posed challenges to comparability, reliability of accounting information, and professional performance, requiring greater technical rigor, ethics, and interpretative capacity. The proposed reflection addresses a theoretical gap and offers critical insights into the debate on the conceptual and practical impacts of normative reformulation in the Brazilian accounting context.