Sunday 21 March 2010

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Work plan for IFRSs

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.

Phase

Topic

A

Objectives and qualitative characteristics.

B

Definitions of elements, recognition and derecognition

C

Measurement

D

Reporting entity concept

E

Boundaries of financial reporting, and Presentation and Disclosure

F

Purpose and status of the framework

G

Application of the framework to not-for-profit entities

H

Remaining Issues, if any

 

 

 

Related information

Project contact

Li Li Lian
IASB Project Manager
General enquiries, Phase A & B
email: llian@iasb.org

 

Kevin McBeth

FASB Project Manager (Phase C)
email: khmcbeth@fasb.org

 

Nobu Kawanishi
FASB Fellow (Phase D)
email: nkawanishi@fasb.org