Conceptual Framework - IASB

Date recorded:

At its meeting on February 23, 2017, the IASB discussed the Conceptual Framework project, concentrating on an appendix on cash-flow-based measurement techniques, and on minor comments on the concepts supporting the asset and liability definitions from the May 2015 Exposure Draft Conceptual Framework for Financial Reporting. Further, the Board discussed: (i) the review for inconsistencies between the revised Conceptual Framework and existing IFRS Standards; (ii) assessing the effects of the revised Conceptual Framework; and (iii) the due process steps for developing the revised Conceptual Framework.

The Board tentatively decided that the Board and the IFRS Interpretations Committee will start using the revised Conceptual Framework as soon as it is issued.

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

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