The FASB Statements of Financial Accounting Concepts contains the full text of five of the six Statements of Financial Accounting Concepts issued to date. These concepts establish the objectives, qualitative characteristics, and other concepts that guide selection of economic events to be recognized and measured for financial reporting their display in financial statements.

Contains the full text of the Accounting Concepts issued to date. The existing concepts are intended to serve the public interest by setting the objectives, qualitative characteristics, and other concepts that guide selection of economic events to be recognized and measured for financial reporting.

The FASB Statements of Financial Accounting Concepts contains the full text of the seven Statements of Financial Accounting Concepts issued to date. The existing concepts are intended to serve the public interest by setting the objectives, qualitative characteristics, and other concepts that guide selection of economic events to be recognized and measured for financial reporting. Unlike a Statement of Financial Accounting Standards, a Statement of Financial Accounting Concepts does not establish Generally Accepted Accounting Principles.