ABSTRACT:
The IASB issued the revised Conceptual Framework for Financial Reporting on 29 March 2018. The Conceptual Framework sets out a comprehensive set of concepts for financial reporting, standard setting, guidance for preparers in developing consistent accounting policies and assistance to others in their efforts to understand and interpret the standards. The changes to the Conceptual Framework may affect the application of IFRS in situations where no standard applies to a particular transaction or event. The revised Conceptual Framework is effective immediately for the IASB and the IFRS Interpretations Committee. However, for preparers who develop accounting policies based on the Conceptual Framework, it is effective only for annual periods beginning on or after 1 January 2020.
KEYWORDS: Conceptual Framework, Relevance, Faithfull Representation.
Acunzo, G., Abate, E. & Scettri, S. (2018). Conceptual Framework for Financial Reporting. Cenni sul nuovo quadro di riferimento contabile dello IASB, RIREA, n.2, pp. 253-261
