The Top 10 Reasons to Fix the FASB’s Conceptual Framework

Authors

Paul B. W. Miller, University of Colorado at Colorado Springs
Paul R. Bahnson, Boise State University

Document Type

Article

Publication Date

7-1-2007

Abstract

The Financial Accounting Standards Board (FASB) produced most of its Conceptual Framework (CFW) more than 20 years ago in a project that began in the 1970s. It achieved notable positive results, yet it isn't without flaws. These blemishes originate from several sources, including political pressures. But time has yielded a new environment that enables the FASB to fix the shortcomings.

Publication Information

Miller, Paul B. W. and Bahnson, Paul R.. (2007). "The Top 10 Reasons to Fix the FASB’s Conceptual Framework". Strategic Finance, 89(1), 42-49.