How does the FASB\'s conceptual framework influence the development of new standards?

The FASB's conceptual framework provides the guidance for new standards. The quality of comparability was very much at stake in the FASB's decision in 2001 to eliminate the pooling of interests method for business combinations. This method was also argued to violate the historical cost principle as it essentially ignored the value of the consideration (stock) issued for the acquisition of another company.