The Influence of Accounting Theory on the FASB Conceptual Framework-Reference-Cited by-同舟云学术

The Influence of Accounting Theory on the FASB Conceptual Framework

Published:2017-12-01 Issue:2 Volume:44 Page:109-124
ISSN:0148-4184
Container-title:Accounting Historians Journal
language:en
Short-container-title:

Author:

Baker C. Richard¹

Affiliation:

1. Adelphi University

Abstract

ABSTRACT During the first half of the 20th century, “accounting theory” developed primarily by accounting scholars and academics provided the primary basis for the practice and teaching of financial accounting in the United States. Since the creation of the Financial Accounting Standards Board (FASB) in the early 1970s, the FASB Conceptual Framework has provided the primary basis for accounting standards-setting, as well as for the practice and teaching of financial accounting. While the purpose of creating a Conceptual Framework has been to develop an agreed-upon set of concepts and principles to guide accounting standards-setting, a related goal has been to reduce diversity in accounting practice and to move toward greater uniformity. This paper traces the influence of accounting theory on the Conceptual Framework and explores some of the consequences of this influence.

Publisher

American Accounting Association

Subject

Accounting

Link

http://meridian.allenpress.com/ahj/article-pdf/44/2/109/1339631/aahj-10555.pdf

Reference40 articles.

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