Global Standards for the world economy

Tuesday 30 May 2017

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Conceptual Framework

Exposure draft: Objectives and Qualitative Characteristics [Phase A] [May 2008]


 Exposure draft and comment letters 2008


On 29 May 2008 the IASB and US FASB jointly published an exposure draft of chapters 1 and 2 of the joint improved conceptual framework.

The exposure draft seeks views on the boards� proposed objective of financial reporting, and the qualitative characteristics and constraints of decision-useful financial information.

This draft reflects the boards� updated proposals in the light of comments received on a discussion paper published in July 2006. The boards considered these comments in 2007 and early 2008.

The exposure draft was open for comment until 29 September 2008, the comment period has now closed. To view the comment letters click here.

Access the due process documents 


Due process documents
Exposure Draft: An improved Conceptual Framework for Financial Reporting:
Chapter 1: The Objective of Financial Reporting
Chapter 2: Qualitative Characteristics and Constraints of Decision-useful Financial Reporting Information
Expos�-sondage: Cadre Conceptuel de L�information Financi�re Am�lior�:
Chapitre 1 Objectif de l�information financi�re:
Chapitre 2 L�information financi�re utile pour la prise
de d�cisions � Caract�ristiques qualitatives et contraintes



Related information

Click here for IASB meeting details December 2008

Click here for the press release

Click here for the FAQs