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THE IMPACT OF THE FASB'S CONCEPTUAL FRAMEWORK PROJECT ON INTERMEDIATE ACCOUNTING
Abstract
The Financial Accounting Standards Board's Conceptual Framework project is the latest attempt at framework development in financial accounting. The Board envisioned an evolutionary acceptance process which included classroom exposure to the Framework. Teachers of intermediate accounting were surveyed to determine if they taught the Framework. Past research indicates that teachers emphasize GAAP and the CPA Examination. Those findings are supported by this study. Although the majority of the sample discuss the Conceptual Framework project, the discussion is superficial. It is possible that an evolutionary acceptance of the Framework, through education, is occurring. The earlier Concepts received more classroom emphasis than the later Concepts. But it is also possible that the top-down approach employed at the beginnning of the project resulted in fairly general Concepts that were easier to accept. As the Concepts became more specific, they threatened the status quo and garnered less acceptance and less classroom exposure. A choice cannot be made between these two explanations at this time. The research also identified individuals who were substantive Framework teachers. No associations were found between substantive teachers and individual characteristics. There was an association between substantive teachers and those who had a time frame greater than six semester hours for intermediate. Another unexpected association was noted between substantive teachers and teachers at schools with undergraduate theory courses. It is theorized that both the amount of classroom time and the faculty assessment of the importance of theory contribute to increased levels of Framework teaching. This suggests that any attempt to increase the level of Framework teaching in intermediate might successfully focus on accounting programs rather than individual instructors.
Subject Area
Accounting
Recommended Citation
SMITH, NANCY E, "THE IMPACT OF THE FASB'S CONCEPTUAL FRAMEWORK PROJECT ON INTERMEDIATE ACCOUNTING" (1986). ETD collection for University of Nebraska-Lincoln. AAI8706248.
https://digitalcommons.unl.edu/dissertations/AAI8706248