Conceptual Framework—Joint Project of the IASB and FASB

Last Updated: November 23, 2010

*Board Meeting Materials and Minutes

The Board meeting minutes are provided for the information and convenience of constituents who want to follow the Board’s deliberations. All of the conclusions reported are tentative and may be changed at future Board meetings. Decisions become final only after a formal written ballot to issue a final Statement, Interpretation, or FSP.

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View other public meeting materials by year: [2007]   [2006]   [2005]   [2004]

 
Board Minutes
2010 Meeting Materials/Observer Notes
IASB
FASB
*The Reporting Entity November 17, 2010 November 17, 2010 
The Reporting Entity October 22, 2010 October 22, 2010 
Measurement July 21, 2010 July 14, 2010 
Objectives and Qualitative Characteristics May 17, 2010 May 17, 2010
Measurement: Discussion Paper Questions May 4, 2010 May 4, 2010


 
Board Minutes
2009 Meeting Materials/Observer Notes
IASB
FASB
Measurement: Discussion of the Updates Draft Measurement Chapter of the Conceptual Framework December 16, 2009 December 16, 2009
Reporting Entity: Comment Period for Exposure Draft n/a August 27, 2009
Measurement: Discussion of the Draft Measurement Chapter of the Conceptual Framework
June 2009
June 10, 2009
Objective and Qualitative Characteristics (Drafting the Chapters)

Objective and Qualitative Characteristics: Redeliberations on the Objective of Financial Reporting

Measurement: Choosing Between a Current Measure and a Non-Current Measure

Reporting Entity: Redeliberations of the Issues Raised during the Comment Period (Part 2)

Reporting Entity: Redeliberations of the Issues Raised during the Comment Period (Part 3)

Objective and Qualitative Characteristics and Reporting Entity: The Primary User Group, Entity Perspective and Parent Company Approach
March 2009





April 2, 2009* 

*Only the Objective and Qualitative Characteristics and the Reporting Entity Phases were discussed at the April 2, 2009 FASB meeting
Objective and Qualitative Characteristics: Redeliberations of the Issues Raised during the Comment Period

Measurement: Narrowing the Set of Measurement Bases

Reporting Entity: Redeliberations of the Issues Raised during the Comment Period
January 2009
January 14, 2009


 
Board Minutes
2008 Meeting Materials/Observer Notes
IASB
FASB
Measurement: New Approach Forward
November 18, 2008
November 5, 2008
Elements and Recognition: Definition of an Asset and of a Liability
October 20, 2008
Elements and Recognition: Definition of a Liability
n/a
June 25, 2008
Elements and Recognition: Distinguishing a Liability from a Business Risk and Stand Ready Obligations
n/a
May 7, 2008
Implications of the Entity Perspective
    Objective and Qualitative Characteristics
    Reporting Entity
April 21, 2008
Issues Arising During Drafting of Objective and Qualitative Characteristics ED and Reporting Entity DP/PV
February 20, 2008
February 20, 2008


 
Board Minutes
2007 Meeting Materials/Observer Notes
IASB
FASB
Elements and Recognition: Definition of a Liability
    Converging and Improving the Definitions
    Examples
December 13, 2007
December 19, 2007
Measurement:
    Milestone I Summary Report
    Measurement Plan Revisions
    Measurement Basis Decision Tool
November 13, 2007
November 21, 2007
Objective and Qualitative Characteristics
Elements and Recognition: Definition of an Asset
October 22, 2007
Interaction Between New Framework and Existing Framework
Objective and Qualitative Characteristics: Objective of Financial Reporting
Elements and Recognition: Definition of an Asset
October 16, 2007
October 17, 2007
Reporting Entity: Comments on Pre-Ballot Draft
September 19, 2007
September 19, 2007
Objective and Qualitative Characteristics: Redeliberations: Stewardship
September 19, 2007
August 29, 2007
Elements and Recognition: Elements and Recognition: Asset Consultation, Status and Priorities
Measurement: Concepts and Principles, Evaluation of Measurement Bases using Concepts and Principles
Reporting Entity: Comment Period for Discussion Paper/Preliminary Views
July 17 & 19, 2007
July 11, 2007
Objective and Qualitative Characteristics Redeliberations: Chapter 1
Objective and Qualitative Characteristics Redeliberations: Timeliness
June 20, 2007
June 27, 2007
Reporting Entity: Outstanding Issues
May 16, 2007
May 8, 2007
Objectives and Qualitative Characteristics: Redeliberations on Qualitative Characteristics and General Project Issues
April 18, 2007
May 2, 2007
Measurement 4: Measurement Basis Candidates and Other Milestone I Issues
Conceptual Framework: Project Status, Plans, and Priorities
Conceptual Framework: Project Processes
April 23, 2007
Elements and Recognition: Distinguishing Liability from Equity (FASB only)
n/a
April 11, 2007
Measurement 3: Measurement Roundtables Summary

Measurement 3A: Plan for Using Measurement Roundtables Comments
March 22, 2007
March 28, 2007
Comment Letter Summary: Phase A: Objectives and Qualitative Characteristics

Elements: Distinguishing Liability from Equity (IASB only)
February 20, 2007
February 28, 2007

 

 
Board Minutes
2006 Meeting Materials/Observer Notes
IASB
FASB
Reporting Entity issues
December 12, 2006
n/a
Elements 8: Asset Definition (VII); Distinguishing Liability from Equity
November 16, 2006
November 15, 2006
Measurement—Measurement Bases; Procedures for Finalizing the Framework; Project Status and Plans, with a focus on Phase B: Elements and Recognition
October 23, 2006
Comment Letter Summary: Measurement Bases for Financial Accounting—Measurement on Initial Recognition
n/a
October 4, 2006
Elements 7: Asset Definition (VI); Reporting Entity; Comment Letter Summary: Measurement Bases for Financial Accounting—Measurement on Initial Recognition
September 21, 2006
September 27, 2006
Elements 6: Asset Definition (V)
July 18, 2006
July 26, 2006
Elements 5: Asset Definition (IV) and Liability Definition (III): Application of the Working Definitions to Certain Contracts—a Forward Contract and an Entity's Own Shares
June 22, 2006
June 20, 2006
Elements 4: Asset Definition (III) and Liability Definition (II)—Joint Meeting

Measurement 1: Planning—Joint Meeting
April 28, 2006
Reporting Entity 2 (IASB only)

Distinguishing Liability from Equity (IASB only)
April 26, 2006
n/a
Reporting Entity 2

Invitation to Comment, Selected Issues Related to Assets and Liabilities with Uncertainties (FASB only) (pages 4-7)
March 30, 2006
April 5, 2006
Elements 3: Asset Definition

Elements 2: Liability Definition
February 23, 2006
March 1, 2006

 

 
Board Minutes
2005 Meeting Materials/Observer Notes
IASB
FASB
Qualitative Characteristics 6: Costs and Benefits

Elements 1: Asset Definition

Reporting Entity: Preliminary Staff Research
December 13, 2005
December 14, 2005
Qualitative Characteristics 5: Process for Assessing Qualitative Characteristics

Objectives and Qualitative Characteristics—Do They Need to Differ for Particular Types of Entities?

Objectives of Financial Reporting Staff Draft

Project Status and Plans, Including Due Process
October 19, 2005

October 25, 2005
October 25, 2005
Qualitative Characteristics 4: Process for Assessing Qualitative Characteristics

Reporting Entity—Planning Issues

Prospective Information (Forecasts)—Planning Issues

FASB (only) Invitation to Comment—Assets and Liabilities with Uncertainties
September 22, 2005
September 21, 2005
Stewardship and Accountability, Relationships between Qualitative Characteristics, and Understandability and Materiality
July 2005
July 27, 2005
Qualitative Characteristics 2: Qualitative Characteristics other than Relevance and Reliability (Faithful Representation)
June 2005
June 22, 2005
Qualitative Characteristics 1: Relevance and Reliability
May 2005
May 25, 2005
Objectives of Financial Reporting—Joint Meeting
April 22, 2005
Draft Project Plan
Draft Project Plan Appendix
February 2005
February 23, 2005
Draft of Initial Staff Communications Document
January 2005
January 19, 2005

 

 
Board Minutes
2004 Meeting Materials/Observer Notes
IASB
FASB
Conceptual Framework—Joint Meeting
October 20, 2004

 

Other Public Meeting Materials

2007 Meeting of: Materials
February 27 SAC Conceptual Framework (Paper 4)

Phase B: Elements—Definition of an Asset (Paper 4A)
January/February Measurement Roundtables Roundtable Materials
Roundtable Audio Webcasts

 

2006 Meeting of: Materials
December 8 SBAC Attachment B—Definition of an Asset
December 7 FASAC Attachment F—Definition of an Asset
September 25-26 WSS Project Update (Paper 1)

Asset Definition (Paper 1A)

Measurement Phase Plan (Paper 1B)

Conceptual Framework Slides (Paper 1C)
June 26 SAC Project Update (Paper 9)

Measurement Paper (Paper 9A)

Appendix
June 22 FASAC Attachment B—Measurement
June 21 SBAC Attachment C—Measurement
April 11 UAC Objective of Financial Reporting, Point of View of Financial Reporting, Stewardship (page 4)
March 23 FASAC Attachment E—Invitation to Comment, Selected Issues Relating to Assets and Liabilities with Uncertainties, pages 27-29

Attachment F—Objective of Financial Reporting, pages 30-33
February 28 SAC Update on Progress to Date (Paper 4)

Revisiting the Concepts (Paper 4A)

Asset Definition (Paper 4B)

Presentation by James Leisenring (Paper 4C)

Presentation by Ian Hague (Paper 4D)

 

2005 Meeting of: Materials
December 1 FASAC Attachment B—Invitation to Comment, Selected Issues Relating to Assets and Liabilities with Uncertainties
September 26-27 WSS Conceptual Framework

Conceptual Framework: Process for Assessing Qualitative Characteristics

Cases for breakout groups on Conceptual Framework—Qualitative Characteristics
September 22 FASAC Attachment E—Understandability and Materiality, pages 34-44
June 22 SBAC Attachment D—Objectives: User Needs, Decision-Usefulness, and Stewardship and Accountability, pages 18–30
June 21 FASAC Attachment F—Neutrality and Faithful Representation
April 20 WSS Project Plan (Paper 4)
March 22 FASAC Attachment D—Objectives and User Needs
February SAC Conceptual Frameworks (Paper 4)

 

2004 Meeting of: Materials
December 2 FASAC Attachment D—Joint Conceptual Framework Project
December 1 SBAC Attachments B & C—An Introduction to the Conceptual Framework and a New Joint Project to Improve It (pages 2–15) & Assessing the Benefits and Costs of a Proposed Change to Accounting and Reporting Standards (pages 16–29)
November 18 SAC Conceptual Framework (Agenda Paper 2)
September FASAC Attachment E—The FASB’S Conceptual Framework: Relevance and Reliability
June FASAC Attachment E—The FASB’s Conceptual Framework: Issues Involving the Definition of Liabilities
March FASAC Attachment D—Revisiting the FASB’s Conceptual Framework