IASB begins process of revising conceptual framework

07/23/2013 | Journal of Accountancy online

The International Accounting Standards Board plans to revise concepts that govern the preparation and presentation of financial statements, as well as principles used by the board to develop and revise International Financial Reporting Standards. These concepts and principles make up the board's conceptual framework for financial reporting. The IASB has issued a discussion paper exploring possible changes.

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