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primary objective of financial reporting according to the joint fasb/iasb conceptual framework - Assignment Example
Author : aurorecole
Finance & Accounting
Pages 3 (753 words)
The intention of the joint fasb/iasb conceptual framework was developed to improve and build upon the existing framework already being implemented.The joint conceptual framework will be conducted in 8 phases…
in 8 phases. The first seven phases will involve the research, planning, and commentary concerns, as well as, deliberations and re-deliberations, while the 8th phase will be left to tackle any remaining issues that evolve during the previous phases. Their goal is to handle each phase individually, but congruently reevaluate the issues and concerns that present themselves along the way. Works Cited "Conceptual Framework—Joint Project of the IASB and FASB." Financial Accounting Standards Board. Financial Accounting Standards Board, n.d. Web. 27 Nov 2012.. Your Name Instructor’s Name Course Name Due Date What are the most important characteristics of accounting information? It is necessary for businesses to be able to trust the accounting information involving their company so that they know the direction, for better or worse, that there business is headed. ...
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