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What elements comprise the FASB's conceptual framework?

Updated: 9/16/2023

Wiki User

∙ 13y ago

Best Answer

The FASB's conceptual framework consists of the following four items:

1. Objectives of financial reporting.

2. Qualitative characteristics of accounting information.

3. Elements of financial statements.

4. Operating guidelines (assumptions, principles, and constraints).

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Gonzalo Abernathy ∙

Lvl 13

∙ 2y ago

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Wiki User

∙ 13y ago

The FASB's conceptual framework consists of the following four items:

1. Objectives of financial reporting.

2. Qualitative characteristics of accounting information.

3. Elements of financial statements.

4. Operating guidelines (assumptions, principles, and constraints).

yay

GT

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