- 2 julio, 2017
- Publicado por: admin
- Categoría: NORMAS EMITIDAS POR EL FASB, SFAS
Accounting is a service-providing activity. It arises out of economic needs, improves with the development of business and is influenced by the economic environment. Accounting theories have been updated and expanded at an impressive speed for recent decades, demonstrating the dynamic and ever-changing nature of accounting.
Recognizing that the fulfillment of the function of accounting depends on well-developed accounting principles, the Financial Accounting Standards Committee in 1982 decided to revise “The Generally Accepted Accounting Principles” previously published by the Review Committee for Accounting Issues. After incorporating the most recent accounting theories and practices, the Committee completed the first statement of financial accounting standards and believes that this new statement will improve accounting practice and enhance the accounting function.
After this Statement was first published in 1982, accounting theory continues to mature and international accounting principles increasingly converge. Therefore, we must now review this Statement, and refer to the conceptual framework and International Financial Reporting Standards issued by the International Standards Board as a guideline for our Committee’s development and interpretation of the accounting principles, and to facilitate the users of financial statements in understanding and applying the accounting principles. In addition, this Statement has been renamed “Conceptual Framework for Financial Accounting and Preparation of Financial