RSM Reporting - Issue 25

In this issue we report on the IASB’s endeavour to publish a new Conceptual Framework, which is approaching a successful completion. We reported on the inception of this project three years ago and we’ve kept an eye on its developments ever since, in the strong belief that the Conceptual Framework is a fundamental document that will shape our profession for the foreseeable future.

My conversation with Darrel Scott, member of the IASB, on the Conceptual Framework project proved to be much more than informative; providing instead inspiring insights into this important project.

As comprehensive as the Conceptual Framework is, one of the open questions it leaves, in its current form, refers to the distinction between liability and equity in certain specific cases. Hence, Anja Guenther and Anna Irrgang (from RSM Germany) have provided us with some valuable insights into the current requirements for distinguishing between equity and liabilities.

As is tradition, the last edition of the year hosts Joelle Moughanni’s review of the pronouncements and amendments that are required to be adopted for the first time for 31 December year ends, as well as those that are available for early adoption.

The issue closes with RSM’s response to recent comment letters as well as an example technical question and answer which arose in practice during the quarter. We hope you will find this issue insightful and helpful.

Marco Mongiello, Editor


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