Conceptual Framework bulletin on the asset/liability approach

Published on: 12 Sep, 2013

In their publication series that discusses the issues that arise in the course of the IASB's Conceptual Framework project, EFRAG and the National Standard Setters of France, Germany, Italy and the UK have published a bulletin considering whether the approach adopted in the Conceptual Framework of defining equity, income and expenses on the basis of the definitions of assets and liabilities is satisfactory, and in particular whether it:

  • implies that the presentation of information on income will be subordinated to information on assets and liabilities;
  • provides an appropriate basis for reporting performance;
  • requires that all assets and liabilities are recognised; and/or
  • implies that all assets and liabilities are to be stated at fair value.

Please download the issue on the role of a Conceptual Framework below or click for access to all publications in this series.


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