Regulatory Alerts2017-11-21
Added · Updated
IFRS Foundation Conceptual Framework for Financial Information: Approval and Basis for Conclusions Chapter 1
The International Accounting Standards Board approved the 2010 Conceptual Framework for Financial Information, which supersedes the 1989 Framework. This document provides the Basis for Conclusions on Chapter 1, detailing the Board's rationale for defining general purpose financial information and identifying existing and potential investors, lenders, and other creditors as the primary users. The Board rejected proposals to include financial stability as a primary objective or to establish a hierarchy among primary users, concluding that serving capital market participants best fulfills its mission.
Topics
Share