Framework
The Conceptual Framework for Financial Reporting states basic principles for IFRS.
The IASB and FASB Frameworks are in the process of being updated and converged. The Joint Conceptual Framework project aims to update and refine the existing concepts to reflect the changes in markets, business practices and the economic environment that have occurred in the two or more decades since the concepts were first developed.
Read more about this topic: International Financial Reporting Standards
Famous quotes containing the word framework:
“Most young black females learn to be suspicious and critical of feminist thinking long before they have any clear understanding of its theory and politics.... Without rigorously engaging feminist thought, they insist that racial separatism works best. This attitude is dangerous. It not only erases the reality of common female experience as a basis for academic study; it also constructs a framework in which differences cannot be examined comparatively.”
—bell hooks (b. c. 1955)
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—Paul M. Churchland (b. 1942)