Conceptual Framework
The project's overall objective is to create a sound foundation for future accounting standards that are principles-based, internally consistent and internationally converged.
This project, undertaken jointly by the IASB and the US FASB, was described in the Memorandum of Understanding.
Where are we in the project?
The boards are conducting the project in 8 phases. Phases A, B, C and D of the project are currently active:
Click on the links below to receive further up-to-date information on the phases.