accoufiing Required a. Identify and discuss the benefits that can be expected to be derived from the FASB's conceptual framework study. ndamental qualtles thar make accounting informa tion useful? . Case 2-2 The Theoretical Foundation of Accounting Principles During the past several years, the FASB has attempted to strengthen the theo- retical foundation for the development of accounting principles. Two of the most important results of this attempt are the Conceptual Framework Project and the Emerging Issues Task Force. During this same period, the FASB has been criti- cized for imposing too many standards on the financial reporting process, the standards-overload problem. Required a. Discuss the goals and objectives of i. The Conceptual Framework Project i. The Emerging Issues Task Force b. Discuss the standards overload problem. . Case 2-3 Quantification