Statements of Financial Accounting Concepts

Concepts statements set the objectives and qualitative characteristics used to to determine which business transactions and events shall be recognized and measured in financial reports. These statements are used by the Financial Accounting Standards Board in the development of accounting principles

Concepts statements were created by the Financial Accounting Standards Board, and are part of generally accepted accounting principles (GAAP).

Related Courses

GAAP Guidebook 
IFRS Guidebook