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.


The New IFRS Conceptual Framework – A Closer Look