Author:
Ohlson James A.,Penman Stephen,Bloomfield Robert,Christensen Theodore E.,Colson Robert,Jamal Karim,Moehrle Stephen,Previts Gary,Stober Thomas,Sunder Shyam,Watts Ross L.,
Abstract
SYNOPSIS: This paper addresses the issues that confront the FASB and IASB in developing a new conceptual framework document. First, we suggest characteristics that a conceptual framework ought to exhibit. Most of these suggestions are based on our critique of the existing framework and the FASB-IASB work in progress. Second, we present a model framework that exhibits these characteristics. We emphasize up front that this framework is quite explicit. It goes to the heart of what a framework document should do: it places specific restrictions on what constitutes admissible accounting standards. The purpose of our effort is to stimulate broad discussion of alternative approaches to foundational documents and to offer a specific example of such an alternative approach.
Publisher
American Accounting Association
Cited by
29 articles.
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