The FASB Concepts Statements are intended to serve the public interest by setting the objectives, qualitative characteristics, and other concepts that guide selection of economic phenomena to be recognized and measured for financial reporting and their display in financial statements or related means of communicating information to those who are interested. Concepts Statements guide the Board in developing sound accounting principles and provide the Board and its constituents with an understanding of the appropriate content and inherent limitations of financial reporting. A Statement of Financial Accounting Concepts does not establish generally accepted accounting standards.

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Concepts Statement No. 8
Conceptual Framework for Financial Reporting—Chapter 1, The Objective of General Purpose Financial Reporting
(Amended 12/2021 | Issued 09/2010)
[As Amended]  [As Issued] 
Amendments to Statement of Financial Accounting Concepts No. 8—Conceptual Framework for Financial Reporting—Chapter 1, The Objective of General Purpose Financial Reporting
(Issue 12/2021)

Concepts Statement No. 8
Conceptual Framework for Financial Reporting—Chapter 2, The Reporting Entity
(Issue Date 06/2023)
[As Issued] 

Concepts Statement No. 8
Conceptual Framework for Financial Reporting—Chapter 3, Qualitative Characteristics of Useful Financial Information
(Amended 08/2018 | Issued 09/2010)
[As Amended]  [As Issued] 
Amendments to Statement of Financial Accounting Concepts No. 8—Conceptual Framework for Financial Reporting—Chapter 3, Qualitative Characteristics of Useful Financial Information
(Issue Date 08/2018)

Concepts Statement No. 8
Conceptual Framework for Financial Reporting—Chapter 4, Elements of Financial Statements
(Issue Date 12/2021)
[As Issued] 

Concepts Statement No. 8
Conceptual Framework for Financial Reporting—Chapter 7, Presentation
(Issue Date 12/2021)
[As Issued]

Concepts Statement No. 8
Conceptual Framework for Financial Reporting—Chapter 8, Notes to Financial Statements
(Amended 12/2021 | Issue Date 08/2018)
[As Amended] [As Issued]

Concepts Statement No. 7
Using Cash Flow Information and Present Value in Accounting Measurements
(Amended 12/2021 | Issued 02/2000)
[As Amended] [As Issued] [Status]

Concepts Statement No. 5
Recognition and Measurement in Financial Statements of Business Enterprises
(Amended 12/2021 | Issued 12/1984)
[As Amended] [As Issued] [Status]

Superseded Concepts Statements:

Concepts Statement No. 1  (Superseded)
Objectives of Financial Reporting by Business Enterprises
(Issue Date 11/1978)
[As Amended] [As Issued] [Status]

Concepts Statement No. 2 (Superseded)
Qualitative Characteristics of Accounting Information
(Issue Date 05/1980)
[As Amended] [As Issued] [Status]

Concepts Statement No. 3 (Superseded)
Elements of Financial Statements of Business Enterprises
(Issue Date 12/1980)
[As Amended] [As Issued] [Status]

Concepts Statement No. 4 (Superseded)
Objectives of Financial Reporting by Nonbusiness Organizations
(Issue Date 12/1980)
[As Amended] [As Issued] [Status]

Concepts Statement No. 6 (Superseded)
Elements of Financial Statements—a replacement of FASB Concepts Statement No. 3 (incorporating an amendment of FASB Concepts Statement No. 2)
(Issue Date 12/1985)
[As Amended] [As Issued] [Status]