European Financial Reporting Advisory Group

Conceptual Framework (joint project FASB / IASB) - Phase B liability definition, including the distinction between a liability and a business risk

Description :

In October 2004, the Boards decided to add to their agendas a joint project to develop an improved and common conceptual framework that is based on and builds on their existing frameworks, (that is, the IASB’s Framework for the Preparation and Presentation of Financial Statements and the FASB’s Statements of Financial Accounting Concepts).

This is the second phase of the Conceptual Framework project, dealing with the elements of financial statement, i.e. liability definition, including the distinction between a liability and a business risk.

A discussion paper will be published by the IASB in 2010.

Documents :

No documents

Responsible :

Sigvard Heurlin

Working groups :

EFRAG Technical Expert Group (EFRAG TEG) - EFRAG Secretariat -

Current Project Status :

Seed

Input for Status :

Seed

Efrag Output

No 'Efrag Output'

Comment Letters

No 'Comment Letters'

Other Input

No 'Other Input'

News Items

No 'Linked News Items'