Use the Internet and/or Strayer databases to research FASB, IASB Conceptual Framework.

Use the Internet and/or Strayer databases to research FASB, IASB Conceptual Framework. Examine the benefits of the current first phase of the conceptual framework in establishing a principles-based framework for more consistent and useful financial reporting.

As CFO of a U.S. company, prepare an example of a plan to mitigate risk and reduce potential litigation under a principles-based accounting framework.