New issue of the European Conceptual Framework newsletter

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

23 Apr 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 third issue of their new newsletter ‘Keep 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.

The third issue of the newsletter summarises and comments on the tentative decisions reached at the March 2013 IASB meeting regarding the content of the forthcoming Discussion Paper. In addition, the newsletter summarises some initial views expressed by National Standard Setters in the EFRAG CFSS meeting of 3 April 2013, which was devoted to the preparation of the first meeting of the IFRS Accounting Standards Advisory Forum (ASAF) where the conceptual framework was the dominating topic.

Conceptual framework topics discussed in this issue of the newsletter are:

  • the scope of the project,
  • definition and recognition of elements,
  • measurement,
  • development and content of the Discussion Papern and
  • debt/equity.

The joint European strategy on the conceptual framework includes issuing specific newsletters as new developments become available 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 new issue of the newsletter is available on the EFRAG website.

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