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Conceptual Framework Phase C — Measurement

Date recorded:

The Boards discussed an updated draft of a new measurement chapter. The Boards discussed the concepts that might be included in a discussion paper. Some Board members suggested clarifying measurement attributes, including guidance on going concern assumption as well as on the usage of alternative measurement attributes and improving articulation of the measurement concepts and their application on the Standards level. One Board member suggested that the discussion paper should not be drafted in the format of a draft chapter of the Conceptual Framework but in the form of questions to constituents on the draft conclusions reached.

The Boards also agreed to include a high level consideration of the credit risk in liability measurement in the draft chapter on measurement.