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... 

The Financial Accounting Standards Board (FASB) attempts to base U.S. GAAP on a number of key theoretical assumptions, principles, and constraints which are commonly known as “conceptual framework of the financial reporting”.  These basic conceptual... 

A pension plan is an agreement between the employer and the employees such that, under prespecified conditions, the employer provides for cash payments to the employees when they retire. Because of abuses against workers, Congress passed the Employee...