The conceptual framework is a series of Statements of Financial Accounting Concepts (SFACs), taken as a whole, set the objectives, characteristics and other concepts that determine how financial ...

2018 is looking to be a busy year as far as financial reporting changes are concerned. There will be two major new standards adopted this year — one for revenue recognition and another one for ...

The US’ Financial Accounting Standards Board (FASB) has issued a new chapter of its Conceptual Framework related to the measurement of items recognised in financial statements. The Conceptual ...

A new conceptual framework for IFRS issued Thursday includes revisions to concepts for reporting assets, liabilities, income, and expenses. In completing the comprehensive project to change the ...

The Financial Accounting Standards Board is proposing a new chapter in its conceptual framework that defines 10 elements of financial statements. Processing Content The proposed chapter, Concepts ...

The Financial Accounting Standards Board has added two new chapters to its Conceptual Framework. “The new chapters of the Conceptual Framework address two important areas of financial reporting: ...