New European newsletter on the debate on Conceptual Framework
15 Feb 2013
The European Financial Reporting Advisory Group (EFRAG), the French Autorité des Normes Comptables (ANC), the Accounting Standards Committee of Germany (ASCG), the Organismo Italiano di Contabilità (OIC) and the UK Financial Reporting Council (FRC) have published the first issue of their new newsletter ‘Keeping up with getting a better framework’ informing European constituents on the latest developments regarding the progress of the Conceptual Framework project with the IASB and other stakeholders.
In this newsletter, an update is given on sessions held at the IASB regarding its plan to issue a Discussion Paper in July 2013. Topics discussed were:
- the reporting entity
- measurement
- liability and equity
- definitions of assets and liabilities
- presentations (including other comprehensive income)
As outlined in by project partners (EFRAG, ANC, ASCG, OIC and FRC) in their strategy on conceptual framework, specific newsletters will be issued as new developments become available. In addition, the project partners intend on issuing bulletin reports on specific issues during the course of the project in an effort to stimulate debate that may be used in discussions with the IASB.
The press release and newsletter are available on the EFRAG website.
