Intermediate Accounting 2 Financial Reporting: Its Conceptual Framework Relationship of Conceptual Framework and Standard-Setting Process Standard setting F1 rom ObjectiⅤes Standards and Concepts Establish methods and procedures for measuring, summarizing, and communicating financia accounting information to external users Statements of Financial Statements of financial Accounting Concepts Accounting StandardsIntermediate Accounting 2 Financial Reporting: Its Conceptual Framework Relationship of Conceptual Framework and Standard-Setting Process Standard Setting From Objectives and Concepts Standards Establish methods and procedures for measuring, summarizing, and communicating financial accounting information to external users. Statements of Financial Accounting Concepts Statements of Financial Accounting Standards