The Conceptual Framework offers a set of interrelated objectives and fundamentals that provides FASB with a useful tool as it sets standards. A Statement of Financial Accounting Concepts is ...

Much ado about nothing? I think not. In contrast to the case of comprehensive income, included in the conceptual framework in 1980 but not part of GAAP until 1997, FASB has already used Concepts ...

Connecticut The conceptual framework contains a set of interrelated objectives and fundamentals for FASB as it sets standards. However, a Statement of Financial Accounting Concepts is nonauthoritative ...