Measurement Objectives

Date recorded:

The Canadian Accounting Standards Board (CASB) has undertaken a research project on behalf of the IASB to analyse the various measurement objectives in financial accounting. The purpose of the project is to identify, consider, and make recommendations with respect to issues related to the selection of an appropriate measurement objective or set of objectives.

The project is intended to provide the IASB and its national standard-setting partners with a basis for initiating active projects to revise/expand their conceptual frameworks and improve their financial reporting standards by basing them on a coherent conceptual basis.

The IASB discussed the first sections of a discussion paper addressing the measurement on initial recognition of an asset and liability. No decisions were made. The CASB will present its final paper to the IASB in September 2003 for further discussion. Parts of this paper may be discussed in July 2003 with the IASB and with the various meetings of the national standard-setting partners.

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