Günther Gebhardt, Araceli Mora and Alfred Wagenhofer: Revisiting the Fundamental Concepts of IFRS

Published on: 31 Mar 2014

Günther Gebhardt, Araceli Mora and Alfred Wagenhofer show discussions and views on a number of important issues that are raised in the IASB Conceptual Framework project from an academic and research perspective.

They discuss:

  • The role of the Conceptual Framework,
  • Objectives and uses of financial reporting,
  • Prudence,
  • Uncertainty in recognition of assets and liabilities,
  • Derecognition, and
  • Measurement issues.

The aim of the paper is to contribute to the current debate on objectives of financial reporting and prudence, and the authors come to the conclusion there is a need and there will surely be ample opportunities for a fruitful discourse between accounting academics and standard setters on the fundamental issues that are addressed in the framework development.

The paper was published in Abacus and can be downloaded through Wiley Online: Revisiting the Fundamental Concepts of IFRS. Professor Mora has kindly also contributed an exclusive three-page summary of the paper for IAS Plus. Please click to download the summary below.

We thank the authors for allowing us to make the results of their research available on IAS Plus.


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