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Conceptual Framework

Relationship of Conceptual
Framework and Standard-Setting
Process

Conceptual Framework
Projects for Financial
Accounting and Reporting

History of Conceptual
Framework
The earliest attempts to develop a conceptual
framework in the U.S. accounting literature were by
William A. Paton and John B. Canning in 1922.
FASB proposed six concepts between 1978 and
1985. Seventh was published in 2000.
1989 IASB published the framework.
It got carried away and got recognition in 2010 by
IASB.

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