The first phase of improvements to the
conceptual framework for IFRS and US GAAP has been completed.

In this phase, the joint project by the
International Accounting Standards Board (IASB) and the US
Financial Accounting Standards Board (FASB) dealt with the
objective and qualitative characteristics of financial
reporting.

As part of the consultation process, the IASB
and FASB jointly published a discussion paper and exposure draft
that resulted in more than 320 comments, which have now been
included. 

The IASB has revised portions of its
framework while the FASB has issued Concepts Statement 8
to replace Concepts Statements 1 and 2.

 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.