Search results
Results from the WOW.Com Content Network
In 2009, the Codification superseded the FASB's Statements of Financial Accounting Standards. 168 standards had been issued before the Codification. Concepts Statements, first issued in 1978. They are part of the FASB's conceptual framework project and set forth fundamental objectives and concepts that the FASB use in developing future standards.
One of the foundations of a set of Financial Accounting Standards is the creation of a Conceptual Framework that defines the principles upon which the standards will be based. Most major national and international accounting standards have developed conceptual frameworks to support their work on setting standards.
The FASB Conceptual Framework was established in 1973 as a comprehensible set of standards and rules intended to address and solve new emerging issues. The conceptual framework underlaid financial accounting by serving as the Board's reasoning behind its standards-setting decisions. [18] [19]
Conceptual framework for accounting and reporting full-text: 1974 August 31 74-10: Accounting for leases full-text: 1974 October 11 74-11: Financial accounting and reporting by face-amount certificate companies full-text: 1974 December 10 74-12: Accounting practices in the mortgage banking industry full-text: 1974 December 30 75-1
This is a list of the International Financial Reporting Standards (IFRSs) and official interpretations, as set out by the IFRS Foundation. It includes accounting standards either developed or adopted by the International Accounting Standards Board (IASB), the standard-setting body of the IFRS Foundation.
The International Accounting Standards Committee (IASC) was established in June 1973 by accountancy bodies representing ten countries. It devised and published International Accounting Standards (IAS), interpretations and a conceptual framework. These were looked to by many national accounting standard-setters in developing national standards. [3]
This article is an incomplete list of Financial Accounting Standards Board (FASB) pronouncements, which consist of Statements of Financial Accounting Standards ("SFAS" or simply "FAS"), Statements of Financial Accounting Concepts, Interpretations, Technical Bulletins, and Staff Positions, which together presented rules and guidelines for preparing, presenting, and reporting financial ...
The philosophy of accounting is the conceptual framework for the professional preparation and auditing of financial statements and accounts.The issues which arise include the difficulty of establishing a true and fair value of an enterprise and its assets; the moral basis of disclosure and discretion; the standards and laws required to satisfy the political needs of investors, employees and ...