salvary, stanley c. w. - EconWPA - 2005
In its Conceptual Framework (CF), the Financial Accounting Standards Board (FASB) has not identified the observable … financial accounting and the result is a mixed-attributes model. Lacking a critical underlying theory, the FASB’s Conceptual … Framework is feeble at best in providing guidance for accounting measurement. Devoid of the critical theory, the FASB focuses on …