The New IFRS Conceptual Framework – A Closer Look
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The New IFRS Conceptual Framework – A Closer Look
Far from revolutionising the IFRS landscape, the new Conceptual Framework clarifies, redefines and supplements the existing version, re-examining the argument in the light of the fundamental characteristics of the financial statements and cost-benefit constraints.
Keywords: Mazars, Thailand, IFRS, IASB, Publication
7 June 2018
The Conceptual Framework consists of eight chapters and an extensive Basis for Conclusions. The introduction explains that its purpose is to:
- assist the IASB to develop and revise its standards;
- assist entities to develop consistent accounting policies when no standard applies to a particular transaction or other event, or when a standard allows a choice of accounting policy; and
- assist all stakeholders to understand and interpret the standards.
The report is completely free of charge to you. Simply click on the link below to download your copy.
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