In its new project on Codification and Simplification, the FASB indicates its intent to evaluate
the feasibility of issuing concepts-based standards rather than issuing detailed, rule-based …

In September 2002, the Financial Accounting Standards Board (FASB) of the United States
published a discussion paper seeking views on whether US standard setting should move …

The distinction between rules‐based and principles‐based standards is not well defined
and is subject to a variety of interpretations (SEC, 2003, p. 5). Yet there is a commonly held …

The Financial Accounting Standards Board (FASB) describes its public interest function as
“… developing standards that result in accounting for similar transactions and circumstances …

Some recent discussions of US financial reporting include implicit or explicit
recommendations that the US abandon the current allegedly" rules-based" system in favor of …

In response to criticism of rules‐based accounting standards and Section 108 (d) of the
Sarbanes‐Oxley Act of 2002, the SEC proposed principles‐based (or 'objectives‐oriented') …

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 …

When setting accounting standards, the Financial Accounting Standards Board (FASB)
strives to: 1. make sure it is working on the right issues, 2. weigh input from its constituents …

The Global Accounting Alliance has raised a call for different perspectives on principles-
based accounting standards. Based on prior studies this paper identifies a number of …

This paper examines issues pertaining to standard setting in an increasingly interconnected
world. It is argued that many present day accounting standards are flawed, generally …