Intermediate Accounting 2 Financial Reporting: Its Conceptual Framework Statements of Financial Accounting Concepts issued by FASB Concepts Statement No. 3 Elements of financial statements of business Enterprises (Issue Date 12/80, replaced by No. 6 in 1985) Concepts Statement No 4 Objectives of Financial Reporting by Nonbusiness Organizations (Issue Date 12/80) ContinuedIntermediate Accounting 2 Financial Reporting: Its Conceptual Framework ➢ Concepts Statement No. 3 Elements of Financial Statements of Business Enterprises (Issue Date 12/80, replaced by No. 6 in 1985) ➢ Concepts Statement No. 4 Objectives of Financial Reporting by Nonbusiness Organizations (Issue Date 12/80) ➢ Continued Statements of Financial Accounting Concepts issued by FASB