The conceptual framework is a series of Statements of Financial Accounting Concepts (SFACs), taken as a whole, set the objectives, characteristics and other concepts that determine how financial ...

The International Accounting Standards Board issued a revised version of its Conceptual Framework for Financial Reporting, underpinning International Financial Reporting Standards. The Conceptual ...

The Financial Accounting Standards Board has added two new chapters to its Conceptual Framework. Issued as “concept statements,” the chapters cover the elements of financial statements, and their ...

FASB on Wednesday issued a new chapter of its Conceptual Framework related to the recognition and derecognition of an item in financial statements. The chapter, Chapter 5 of FASB Concepts Statement No ...