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Heads Up: FASB and IASB Complete First Phase of Joint Project on Conceptual Framework for Financial Reporting

Volume 17, Issue 32

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The attached issue of Heads Up discusses the FASB’s and IASB’s issuance of two chapters as part of their joint eight-phase project to develop an improved, converged conceptual framework for financial accounting and reporting. This single conceptual framework will serve as the foundation for the development of financial accounting and reporting guidance based on consistent principles.

Read more in the file attached below or visit the Heads Up Archive for past issues.

Heads Up and other information on accounting and financial disclosure also can be found in the Technical Library: The Deloitte Accounting Research Tool. Technical Library, a subscription-based research tool, includes material from the Financial Accounting Standards Board (FASB), Emerging Issues Task Force (EITF), AICPA, Securities and Exchange Commission (SEC) and International Accounting Standards Board (IASB), in addition to our own accounting manual and interpretive accounting guidance. Updated every business day, the Technical Library has an intuitive design and navigation system. Powerful search features enable users to locate information quickly, at any time and from any computer.