IASB Webcast Series : Proposed Conceptual Framework : objectives and qualitative characteristics

The IASB staff are creating a series of recorded web presentations to help those with an interest in the Conceptual Framework get a better understanding of the proposed changes that are currently being consulted on.

Each presentation provides a detailed walk-through of the different parts of the Exposure Draft, providing further insight into the IASB’s thinking and the rationale behind the proposals. The Exposure Draft proposes a number of enhancements to the existing Conceptual Framework, for example:

  • refining the definitions of the basic building blocks of financial statements—assets, liabilities, equity, income and expenses;
  • a new chapter on measurement that describes appropriate measurement bases (historical cost and current value, including fair value), and the factors to consider when selecting a measurement basis; and
  • confirming that the statement of profit or loss is the primary source of information about a company’s performance, and adding guidance on when income and expenses could be reported outside the statement of profit or loss, in ‘Other Comprehensive Income (OCI)’.

A new presentation will be published every week and can be viewed on demand. Each presentation consists of slides and voice and runs approximately 10–25 minutes.

Chapters 1 and 2—objectives and qualitative characteristics Thursday 17 September Watch here
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About AIWMI

The Association of International Wealth Management of India (AIWMI) is a not-for-profit organization and a globally recognized membership association for finance professionals. AIWMI primarily focuses on the broad and strategic role of developing a more robust and forward-looking training infrastructure for the financial services sector and to promote more active industry involvement and collaboration in training and continuing education. AIWMI is offering advanced international certification programs along with a wide variety of high-quality executive education programs. AIWMI programs combine state-of-the-art knowledge and skills with practical experience and insights into the functioning of the financial sector. All AIWMI courses and educational events have an intense and pragmatic curriculum. Participants are exposed to the latest developments within the financial services sector. AIWMI plays a key role in guiding the development of the financial services sector. AIWMI works with key industry participants’ viz. the Government, the Regulators, the Industries/Associations, the Corporate, the Media and the General Public to achieve its objectives. Besides enhancing technical competence and professionalism in the industry, AIWMI organizes events and facilitates discussions to promote best practices in leadership and talent development in the financial sector with an aim to become Asia’s premier center of excellence for financial education.

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