Statement of Financial Accounting Standard No. 33, Financial Reporting and Changing Prices, and the Financial Accounting Standards Board's Conceptual Framework Project

This thesis establishes that the accounting function provides information for economic decision making to decision makers. In order to provide such information, the professional rule making bodies promulgate Statements of Financial Accounting Standards and Concepts to guide the output of information that is released to decision makers. This thesis will explore, in depth, Statement of Financial Accounting Standard No. 33, Financial Reporting and Changing Prices, and establish that through the experimental nature of this statement, this particular statement is directly related to The Financial Accounting Standards Board's Conceptual Framework Project. The substance of this thesis emphasizes that Statement of Financial Accounting Standard No. 33 is consistent with the elements of the Financial Accounting Standards Board's Conceptual Framework Project and that it is the Financial Accounting Standards Board's intention to allow the accounting community a great deal of flexibility with regard to compliance with the statement in order that the Board may subsequently evaluate the requirements of Statement of Financial Account Standard No. 33 after not longer than a five year experimental period.