The two boards discussed their conceptual framework, a document which requires some pretty existential thrashing out to be done before it can be realised.
Two of the key questions put before the Boards were the following:
See full Article.
Wednesday, May 04, 2005
Standards boards debate role of financial reporting
At a joint meeting last week the International Accounting Standards Board (IASB) and US Financial Accounting Standards Board (FASB) grappled with the theological sinews of financial reporting, daring to ask the question: who and what is it for?
The two boards discussed their conceptual framework, a document which requires some pretty existential thrashing out to be done before it can be realised.
Two of the key questions put before the Boards were the following:
Is the purpose of financial reporting to provide issues relating to a wide range of users, or just to existing common shareholders? and
What is the role of accountability or stewardship?
See full Article.
The two boards discussed their conceptual framework, a document which requires some pretty existential thrashing out to be done before it can be realised.
Two of the key questions put before the Boards were the following:
See full Article.
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