FMN Accounting  |  Format: Flash

FASB's Conceptual Framework: Why You Should Be Concerned

Course Overview
Many financial managers believe that the Financial Accounting Standards Board�s conceptual framework of accounting principles does not have a direct impact on their work, because it is simply a type of internal guide that the Board uses to develop its guidance. Our cameras were on hand at the Emanuel Saxe Distinguished Lecture in Accounting at Baruch College, where FASB board member Christine Botosan emphasizes how the conceptual framework establishes those concepts that underlie financial reporting.

Learning Objectives
Upon successful completion of this segment, you should be able to:

  • Recognize what the conceptual framework is;
  • Identify the steps taken by the 1973 AICPA Trueblood Study Group;
  • List the Concept Statements that have been released by the FASB; and
  • Recognize the information users need to make resource allocations decisions.

    Catalog Number: FMN1251-FM
    CPE Credits: 2 Registry / 2 QAS
    Author: FMN Online
    Advanced Preparation:
    Work experience in financial reporting or accounting, or an introductory course in accounting.
    Course Level: Overview
    Field of Study: Accounting
    Content Partner: FMN Online
    QAS: QAS Certified based on 50 minute hours.
    Course Type: Self-Study
    Minimum Passing Grade: 70%
      You are allowed 2 attempts to pass the final exam in a 30 day period. You will be locked out of the final for 30 days after any second failure.
    Soft/Hardware Reqs.:  Adobe Acrobat® Reader for the .pdf files
     Adobe® Flash® Player 9 or higher
     56k or Greater Internet Connection
     Modern DHTML Compatible Browser
     Ram: 256 MB minimum
     Sound card with speakers/headphones
     Windows or Mac OS
    Release/Expiration Dates: Apr 10, 2018 / Nov 13, 2019