This text investigates the practical application and interpretation of the Financial Accounting Standards Board (FASB) Statement 32 regarding the selection of preferable accounting principles. Martin A. Miller, an expert in accounting standards, provides a structured restatement of these principles to assist practitioners in navigating complex reporting requirements. The book utilizes the official FASB framework to clarify how entities should justify changes in accounting methods when multiple options exist.

Professionals and students often utilize this text as a foundational reference for understanding the historical context of FASB reporting requirements. Readers frequently note the technical density of the prose, which is intended for those with a background in financial accounting and auditing.