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Feedback on the EFRAG Discussion Paper on the classification of claims

  • EFRAG (European Financial Reporting Advisory Group) (dk green) Image

31 Mar 2015

The European Financial Reporting Advisory Group (EFRAG) has published a feedback statement summarising the main messages from respondents to EFRAG’s Discussion Paper 'Classification of Claims'.

The paper, published in July 2014, was aimed at assisting the IASB in the development of its project on distinguishing between equity and liabilities in the context of the revision of the Conceptual Framework for Financial Reporting. The EFRAG paper addressed the classification of claims in general and thus went beyond the discussion around the mere distinction between equity and liabilities. Respondents to the Discussion Paper generally supported the identified framework but most respondents considered that current binary classification model in IFRS should be retained, with a negative definition of equity and refinement of the positive definition of a liability. The Discussion Paper and reactions to it were discussed at the last ASAF meeting.

The feedback statement is available on the EFRAG website.

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