What is the FASB conceptual framework?

What is the FASB conceptual framework? The Conceptual Framework (or “Concepts Statements”) is a body of interrelated objectives and fundamentals. Those concepts provide guidance in selecting transactions, events and circumstances to be accounted for, how they should be recognized and measured, and how they should be summarized and reported. What is the purpose of FASB … Continue reading What is the FASB conceptual framework?