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Tuesday 29 July 2014

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IASB meeting summaries


 IASB November 2008


 

Measurement

The Board discussed the beginnings of an approach to the measurement of assets of liabilities for inclusion in the conceptual framework.

The approach under consideration would address both the theoretical merits and practical limitations of different types of measurements but would not lead automatically to a decision about measurement in particular instances. It would describe the circumstances and factors that should be considered when making decisions about measurement methods.

The Board discussed five factors that might be considered in selecting from among alternative measurement bases. A list of those factors may be found at the Website for this joint project with the US Financial Accounting Standards Board ( http://www.fasb.org/project/cf_phase-c.shtml).

The Board did not make a decision about the individual aspects of the approach discussed, but the Board supported the general ideas and directed the staff to continue to develop the approach.

Reporting entity

The staff presented a summary of comments received on the discussion paper Preliminary Views on an improved Conceptual Framework for Financial Reporting: The Reporting Entity and explained the plans for redeliberations. No decisions were made.

 

Date: 11/18/2008