The most important new issue brought up in the discussion memorandum that preceded the conceptual framework was predictive ability.
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Q10: Relevance and reliability are the primary characteristics
Q11: According to SFAC No. 4, "earnings" is
Q12: SFAC No. 5 appears to deny one
Q13: The benefits of accounting information pertain to
Q14: Competitive disadvantage is an indirect cost of
Q16: The definitions of SFAC No. 6 are
Q17: Comprehensive income as defined by SFAC No.
Q18: The discussion memorandum that preceded the conceptual
Q19: SFAC No. 1 takes the position that
Q20: The quality of understandability is a characteristic
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