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June 15, 2026Accounting Horizons

Using the FASB's Conceptual Framework: Fitting the Pieces Together.

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Authors

DKDavid R. Koeppen

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Overview

Article discusses applying FASB's framework to accounting situations, highlighting its completeness and relevance.

Key Points

  • The aim is to evaluate the applicability of the FASB's conceptual framework in accounting decisions.
  • Focused on FASB's Statements of Financial Accounting Concepts (SFAC) as the basis for the model.
  • Analyzed the ten elements essential for constructing financial statements.
  • Assessed the qualitative characteristics outlined by FASB for financial reporting.
  • The FASB's conceptual framework is found to be complete for making accounting choices.
  • Identified ten elements—assets, liabilities, equity, investments by owners, distributions to owners, comprehensive income, revenues, expenses, gains, and losses—as crucial for financial statements.
  • The qualitative characteristics promote clarity and reliability in accounting information.

Cite This Study

David R. Koeppen (1988) studied this question.

synapsesocial.com/papers/6a2f97e8a1cfeec490828fa9https://doi.org/10.2308/ah-4825047
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Also Consider

Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context:

  1. 1SFAS No. 12 and the Conceptual Framework.1987
  2. 2The Conceptual Framework: Not Definitions, But Professional Values.1987
  3. 3An Evaluation and Critique of the Changes Provided by Statement of Financial Accounting Concepts No. 6.1987
  4. 4FASB's Statements on Objectives and Elements of Financial Accounting: A Review.1980 · 2 citations
  5. 5Dale L. Gerboth on The Profession.1988