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Questionnaire on proposed definitions of assets and liabilities

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

19 Oct 2015

In order to test whether the proposed new definitions in the IASB's exposure draft ED/2015/3 'Conceptual Framework for Financial Reporting' will be interpreted similarly by different persons, the European Financial Reporting Advisory Group (EFRAG) has developed a questionnaire.

The questionnaire presents nine arrangements and asks respondents to provide their assessment of whether different aspects of the definitions of assets and liabilities proposed in the May 2015 ED are met. Respondents are asked to provide their assessment solely based on the proposed definitions and the additional guidance included in the ED.

The completed questionnaire, which is available through the press release on the EFRAG website, should be submitted before 15 December 2015. The responses inform EFRAG’s assessment of the proposed definitions and the results will be communicated to the IASB in the beginning of 2016.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.