Friday 03 July 2015
The objective of this research project is to improve existing guidance in IFRS that helps entities determine the basic structure and content of a complete set of financial statements.
The focus is on reviewing the general disclosure guidance in IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. The aim is to develop a Disclosure Standard that improves and brings together the principles for determining the basic structure and content of the financial statements, in particular the notes.
This research project is informed by the Discussion Forum on Financial Reporting Disclosure and a variety of publications by other organisations. The research activities will also consider the feedback received for the presentation and disclosure section of the Conceptual Framework Discussion Paper.
This project will not consider the removal or addition of specific disclosure requirements in other Standards. The disclosure requirements in all Standards will be reviewed systematically in the light of the revised Conceptual Framework and of work undertaken in this project. . In addition, the work that the FRC had undertaken on Cash Flows under this research project was moved to the Performance Reporting project.
Speech by Hans Hoogervorst: 'Mind the Gap (Between non-GAAP and GAAP)'
The Principles of Disclosure project was discussed at the March IASB meeting
IASB continues discussion on the Principles of Disclosure project
(eIFRS Basic required)
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