As we discussed here, the IASB has published for public consultation proposals to improve the Conceptual Framework for Financial Reporting, with comments to be received by October 26, 2015. As at present, the proposal sets out faithful representation as a fundamental qualitative characteristic of financial information – that is: “Financial reports represent economic phenomena in…
As we discussed here, the IASB has published for public consultation proposals to improve the Conceptual Framework for Financial Reporting, with comments to be received by October 26, 2015. The proposals retain the current definition of equity, as “the residual interest in the assets of the entity after deducting all its liabilities,” adding a few…
The IASB has published for public consultation proposals to improve the Conceptual Framework for Financial Reporting, with comments to be received by October 26, 2015. Here’s how the news release summarized this step: The Conceptual Framework underpins International Financial Reporting Standards (IFRS) and helps the IASB to develop Standards that bring transparency, accountability and efficiency…
John Hughes IFRS Blog 