conceptual framework fasb and iasb its joint project riri octavia
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Conceptual Framework : FASB and IASB, It’s Joint ProjectLIZI VIRMA SURIANTIRIRI OCTAVIA
CONCEPTUAL FRAMEWORK
ISSUE
ROLE
OBJECTIVES
CHARACTERISTIC
MODEL
CONCEPTUAL FRAMEWORK
CF
CONSISTENT STANDARD OF F/R
The Principles
• Information quality vs information transparency
• Timing vs timeliness of information
• Permanent vs transitory performance measures
• Value vs price
Principles underlying the construction of information set
• Recognition and Measurement Rest on Interpreting Transaction
• Operating Activities separate from financial activities
• The Centrality of operating earning measurement
• Balance sheet conservatism• Owners’s equity accounting
rest on a proprietorship perspective
Arguments Supporting the 5
Principles
CRITISM
1. Rob Bloomfields
2. Ted Christensen
3. Ross Watts
1. Transaction –Based Accounting
2. Operating vs Financial Activities
3. The Centrality of Income Statement and Earning Measurement
4. Conservatism 5. Proprietorship
Perspective
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