When the FASB considers the effects of an accounting standard:

Question

Quizplus · Accepted Answer

The FASB considers benefits primarily in terms of the information needs of the stock market, as well as the benefits to users of financial statements (such as investors and creditors). It also considers the costs and practicality of implementing the standard for preparers of financial statements. The FASB does not only consider auditing costs and is not primarily concerned with the effects of the standard on small or non-publicly listed firms.

When the FASB Considers the Effects of an Accounting Standard