ASBJ and FASB continue discussions
08 Mar 2013
The fourteenth meeting between representatives of the Accounting Standards Board of Japan (ASBJ) and the Financial Accounting Standards Board (FASB) was held in Norwalk, Connecticut on 4-5 March 2013. The meeting saw updates on each board's respective standard setting activities and an exchange views on the IASB's activities, especially about the conceptual framework, which both Boards believe is essential to the development of high-quality global accounting standards.
The FASB and the ASBJ also discussed the following projects that the FASB and the International Accounting Standards Board (IASB) are currently deliberating:
- Financial instruments: Classification and measurement (including the Exposure Drafts issued by the IASB and FASB)
- Financial instruments: Impairment (including the Exposure Drafts issued by the IASB and FASB)
- Leases (including the recent deliberations that will lead to the Re-exposure Draft to be issued in the second quarter of 2013)
The ASBJ and FASB will continue to meet, with another meeting to be scheduled for the second half of 2013. Click for press release (link to ASBJ website).
