In its Concepts Statements, the FASB favors conservative accounting.
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Q54: "Aggressive" accounting tends to understate net income
Q55: A "conservative" balance sheet would tend to
Q56: A "conservative" balance sheet would tend to
Q57: "Conservative" accounting tends to understate net income.
Q58: "Neutral" estimates have an equal probability of
Q60: Normal accounting under GAAP assumes that companies
Q61: The FASB's general principles on when to
Q62: One of the FASB's criteria for recognizing
Q63: One reason that GAAP requires companies to
Q64: Historically, bankers and lenders have tended to
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