The Financial Accounting Standards Board is proposing a new chapter in its conceptual framework that defines 10 elements of financial statements. The proposed chapter, Concepts Statement No. 8, ...

A new conceptual framework for IFRS issued Thursday includes revisions to concepts for reporting assets, liabilities, income, and expenses. In completing the comprehensive project to change the ...

The conceptual framework is a series of Statements of Financial Accounting Concepts (SFACs), taken as a whole, set the objectives, characteristics and other concepts that determine how financial ...

The new chapter will become Chapter 2 of FASB Concepts Statement No. 8, Conceptual Framework for Financial Reporting. It's similar to the rest of the framework, establishing concepts that FASB would ...

FASB on Wednesday issued a new chapter of its Conceptual Framework related to the recognition and derecognition of an item in financial statements. The chapter, Chapter 5 of FASB Concepts Statement No ...