Board Statements, Staff Reports and Agenda Proposals
The Citizens Accounting Standards Board is explicitly modeled on concepts of transparency, which is to say, the effective presentation of information to the persons who use that information.
OhioCASB finds it reasonable to emulate the approach of its models, the Financial Accounting Standards Board and the Governmental Accounting Standards Board. When it comes to developing policy and practice, FASB relies upon a process that includes concept statements, standards, a proposed agenda, and open and emerging issues.
–concept statements are high concept, simple principles that guide overall conduct
–standards are specific practices meant to fulfill the general principles
–proposed agenda is the specific proposals that should be adopted as practices, laws or other public policy
–open issues are items being evaluated for the proposed agenda
–emerging issues are forward looking items being considered for open issue status