The selection of accounting principles occurs at two levels. First, the FASB determines which principles constitute GAAP. In a number of instances, however, the FASB allows the use of more than one method. Thus, corporate managers also make accounting policy decisions. Which criteria are used by the FASB and corporate managers to select accounting principles? This post overviews factors that effect corporate manager’s decision in selecting accounting principles they implement. Follow on…   The FASB’s primary objective is to select accounting [...]