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http://ssrn.com/abstract=1860524
 
 

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A Sound Foundation: The FASB Got Its Conceptual Framework Right, The IASB Didn't


Chauncey M. DePree Jr.


University of Southern Mississippi - College of Business Administration - Accounting

June 8, 2011


Abstract:     
In the wake of recent economic crises and the expanding pace of global business, the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) are under pressure to improve and converge accounting standards. They expect a conceptual framework (CF) will advance the development of worldwide accounting standards and comparable financial reporting. The IASB-FASB joint CF project has as a goal the creation of a sound foundation for accounting standards. But, how will they know the goal is satisfied? This study offers CF authors and users a verifiable, rigorous decision process to assess whether the objective is accomplished.

Number of Pages in PDF File: 20

Keywords: IASB-FASB Conceptual Framework, Accounting Standards, Financial Reports, Sound Foundation, Mathematics, Global Business

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Date posted: June 11, 2011 ; Last revised: August 1, 2011

Suggested Citation

DePree, Chauncey M., A Sound Foundation: The FASB Got Its Conceptual Framework Right, The IASB Didn't (June 8, 2011). Available at SSRN: http://ssrn.com/abstract=1860524 or http://dx.doi.org/10.2139/ssrn.1860524

Contact Information

Chauncey M. DePree Jr. (Contact Author)
University of Southern Mississippi - College of Business Administration - Accounting ( email )
Hattiesburg, MS 39406
United States
601-297-3404 (Phone)
HOME PAGE: http://www.usmnews.net
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