publication . Article . 2013

The International Accounting Standards Board’s Progress in Promoting Judgement Through Objectives-Oriented Accounting Standards

Tanja Lakovic; Jayne Fuglister;
Open Access English
  • Published: 01 Jul 2013 Journal: International Journal of Business and Social Research (issn: 2164-2540, eissn: 2164-2559, Copyright policy)
  • Publisher: MIR Center for Socio-Economic Research
This study analyzes how the International Accounting Standards Board (IASB) promotes professional judgement by issuing objectives-oriented accounting standards and exposure drafts.  We focus on the the role of judgement as outlined in Phase I of the IASB Conceptual Framework (CF), Chapter 1, “Objective of General Purpose Financial Statements” and Chapter 3, “Qualitative Characteristics of Useful Financial Information” (IASB 2010). We discuss how the framework, when viewed through the prism of 'objectives-oriented accounting standards' as recommended by the United States Securities and Exchange Commission (SEC) Report in its “Study Pursuant to Section 108(d) of t...
free text keywords: Conceptual, Framework, Judgement, Principles-based, Accounting, Objectives-oriented, Accounting, Standards, Objectives-based, Accounting, Standards, International, Financial, Reporting, Standards., Business, HF5001-6182
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