Project Update

Conceptual Framework—Phase D: Reporting Entity

Latest revisions:  As of 29, May 2008 (Updated sections are indicated with an asterisk *)

This project update summarizes the project activities and decisions of the IASB and FASB (the Boards). It was prepared by the staff and is for the information and convenience of the Boards’ constituents. All decisions of the Boards are tentative, may change at future Board meetings, and do not change current accounting and reporting requirements. Decisions of the Boards become final only after extensive due process.

Project Objective
*Due Process Documents
Decisions Reached at the Last Meeting
*Summary of Decisions Reached to Date
*Next Steps
Board/Other Public Meetings
Contact Information

Phase D Objective

The objective of Phase D, Reporting Entity, is to determine what constitutes a reporting entity for the purposes of financial reporting.

*Due Process Documents

The Boards issued their Preliminary Views, Conceptual Framework for Financial Reporting: The Reporting Entity, on May 29, 2008. The comment period ends on September 29, 2008.

Decisions Reached at the Last Meeting

IASB Update April 2008
FASB Action Alert—April 21, 2008 joint meeting

*Summary of Decisions Reached to Date

See Preliminary Views for decisions reached to date.

*Next Steps

The Boards will consider comments from respondents to their Preliminary Views.

Board/Other Public Meetings

View the FASB and IASB meeting handouts, minutes, and updates.

Contact Information

Li Li Lian
IASB Project Manager
llian@iasb.org