Limited Scope Update of Conceptual Framework

Objective

The project objective is to update the Conceptual Framework for a limited number of issues based on the criteria of urgency, consequences, feasibility and prevalence with a particular emphasis on the first three of these criteria.

Current Status of the Project

The IPSASB reviewed responses to ED 76, Conceptual Framework Update: Chapter 7, Measurement of Assets and Liabilities in Financial StatementsThe IPSASB decided to retain the three-level classification proposed in ED 76. However, the term ‘Subsequent Measurement Framework’will be adopted rather than ‘Measurement Hierarchy’. 

The IPSASB decided to include fair value as defined in ED 76 and to delete market value. The IPSASB instructed staff to further analyze the case for deletionof net selling price, cost of release and assumption price.

Project Contact

Board Sponsor

 

Thank you for your interest in our publications. These valuable works are the product of substantial time, effort and resources, which you acknowledge by accepting the following terms of use. You may not reproduce, store, transmit in any form or by any means, with the exception of non-commercial use (e.g., professional and personal reference and research work), translate, modify or create derivative works or adaptations based on such publications, or any part thereof, without the prior written permission of IFAC.

Our reproduction and translation policies, as well as our online permission request and inquiry system, are accessible on the Permissions Information web page.

For additional information, please read our website Terms of Use. ALL RIGHTS RESERVED.

Agree