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Conceptual Framework Phase E — Presentation and disclosure

As a result of the IASB's Agenda Consultation project, the IASB decided to reactivate the Conceptual Framework project as an IASB-only comprehensive project. We have created a separate page for this new project.

Background

At their joint meeting in October 2004, the IASB and the US FASB decided to add to their respective agendas a joint project to develop a common conceptual framework, based on and built on both the existing IASB Framework and the FASB Conceptual Framework, that both Boards would use as a basis for their accounting standards.

The joint Conceptual Framework project is being conducted in eight phases. Phase E seeks to determine the concepts underlying display and disclosure of financial information, including the boundaries of such information, that will achieve the objective of general purpose financial reporting.

Current status of the project

The IASB and FASB did not deliberate this phase of the project.

As a result of the IASB's Agenda Consultation project, the IASB decided in September 2012 to reactivate the Conceptual Framework project as an IASB-only comprehensive project. This project will consider the elements of financial statements, measurement, reporting entity, presentation and disclosure.

 

Project milestones

DateDevelopmentComments
October 2004 Comprehensive project added to the active agenda
September 2012 Project discontinued and replaced by IASB-only comprehensive project