A Framework for Financial Reporting Standards: Issues and a Suggested Model

Steve Moehrie; James A. Ohlson; Stephen Penman; Robert Bloomfield; Theodore E. Christensen; Robert Colson; Karim Jamal; Gary Previts; Thomas Stober; Shyam Sunder; Ross L. Watts; Steve Moehrle

A Framework for Financial Reporting Standards: Issues and a Suggested Model

Steve Moehrie, James A. Ohlson, Stephen Penman, Robert Bloomfield, Theodore E. Christensen, Robert Colson, Karim Jamal, Gary Previts, Thomas Stober, Shyam Sunder, Ross L. Watts, Steve Moehrle

University of Missouri-St. Louis

Research output: Contribution to journal › Article › peer-review

Abstract

This paper addresses the issues that confront the FASB and IASB in developing a new conceptual framework document. First, we suggest characteristics that a conceptual framework ought to exhibit. Most of these suggestions are based on our critique of the existing framework and the FASB-IASB work in progress. Second, we present a model framework that exhibits these characteristics. We emphasize up front that this framework is quite explicit. It goes to the heart of what a framework document should do: it places specific restrictions on what constitutes admissible accounting standards. The purpose of our effort is to stimulate broad discussion of alternative approaches to foundational documents and to offer a specific example of such an alternative approach.

Original language	American English
Journal	Accounting Horizons
Volume	24
State	Published - Sep 2010

Disciplines

Business

Cite this

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abstract = " This paper addresses the issues that confront the FASB and IASB in developing a new conceptual framework document. First, we suggest characteristics that a conceptual framework ought to exhibit. Most of these suggestions are based on our critique of the existing framework and the FASB-IASB work in progress. Second, we present a model framework that exhibits these characteristics. We emphasize up front that this framework is quite explicit. It goes to the heart of what a framework document should do: it places specific restrictions on what constitutes admissible accounting standards. The purpose of our effort is to stimulate broad discussion of alternative approaches to foundational documents and to offer a specific example of such an alternative approach. ",

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AU - Penman, Stephen

AU - Bloomfield, Robert

AU - Christensen, Theodore E.

AU - Colson, Robert

AU - Jamal, Karim

AU - Previts, Gary

AU - Stober, Thomas

AU - Sunder, Shyam

AU - Watts, Ross L.

AU - Moehrle, Steve

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A Framework for Financial Reporting Standards: Issues and a Suggested Model

Abstract

Disciplines

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