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Friday 29 August 2014

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Project News


Forthcoming IASB meeting alert

 19 May 2014


On 21 May 2014 the IASB will discuss:

  • the definitions of an asset and a liability;
  • recognition criteria;
  • approach to defining income and expense;
  • reporting entity (including the perspective from which the financial statements should be prepared);
    going concern;
  • possible changes to Chapter 1 The objective of general purpose financial reporting and
  • Chapter 3 Qualitative characteristics of useful financial information of the existing Conceptual Framework, including possible changes to the way these chapters deal with:
    • prudence;
    • stewardship; and
    • reliability.

You can find the papers that will be discussed at the meeting and register for webcasts here.

You can also find more information on the project from the Conceptual Framework project page.