![]() ![]() ![]() She therefore supported the recommendation despite her concerns. However, she reminded the Board that this was an Exposure Draft and that such consequences would probably be flagged by constituents. It meant instead that the Disclosure Initiative would consider whether an objective of the notes was also to help users recalculate the amounts.Īnother Board member said she shared the concern about unintended consequences from removing the reference to gains and losses from the Conceptual Framework. It did not mean that there would not be an objective about understanding the amounts in financial statements. The Research Director clarified that the negative statement was explicitly about recalculating and that this was a repetition from the Discussion Paper. In his view, it should even go further and state the objective that users should be enabled to understand the amounts in the financial statements. The Vice-Chairman agreed with staff and said that those terms had been used falsely in practice for a while.Ī Board member disagreed with the staff recommendation that the Conceptual Framework should not comment on whether the disclosure guidance in standards included providing information that enabled a user of financial statements to recalculate the amounts recognised in the financial statements. The Technical Principal replied that the concept of income and expense was inclusive and that they did not want to suggest any sub-classification. The Technical Principal confirmed that and said it was only an update of terminology.Īnother Board member was concerned about the removal of the references to gains and losses. He asked the staff to confirm that these modifications would not change practice. One Board member said that he understood that the changes were necessary and it was therefore difficult to disagree with them. ![]() She pointed the Board to the summary of recommendations in the agenda paper and asked whether the Board agreed with these recommendations. The Technical Principal introduced the agenda paper that comprised four sweep issues on the Conceptual Framework project. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |