Conceptual Framework - IASB

Date recorded:

At its meeting on September 22, 2016, the IASB discussed concepts from the May 2015 Exposure Draft, Conceptual Framework for Financial Reporting. Tentative decisions were made with respect to the: (i) reporting entity; (ii) presentation and disclosure; (iii) asymmetry in treating gains and losses; and (iv) equity. The Board will continue its discussions at its October 2016 meeting. The Board will also discuss drafting suggestions for the acknowledgement of an asymmetric treatment of gains (or assets) and losses (or liabilities). Further, the Board will discuss the Exposure Draft, Updating References to the Conceptual Framework.

Review the IASB Update on the IASB's Web site.

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