The framework also contains guidance for reporting financial performance. As defined in the new conceptual framework, assets and liabilities focus on a company’s rights and responsibilities. The ...

The Financial Accounting Standards Board has added two new chapters to its Conceptual Framework. Issued as “concept statements,” the chapters cover the elements of financial statements, and their ...

A company might be resilient during a recession ... A new paper in the Journal of the Royal Society Interface presents a new conceptual framework that could provide answers in the future.

The guide will be used by the board and the PCC, along with the existing FASB conceptual framework for financial reporting, in making user-relevance and cost-benefit evaluations for private companies.