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Consultation Paper Conceptual Framework

AASB Invitation to Comment ITC 39 May 2018 Consultation Paper Applying the IASB s Revised Conceptual Framework and Solving the Reporting Entity and Special Purpose Financial Statement Problems Comments to the AASB by: 9 August 2018 for Phase 1: Short-term approach; and 9 November 2018 for Phase 2: Medium-term approach (refer to inside cover) ITC 39 2 COPYRIGHT How to Comment on this AASB Invitation to Comment Comments on Phase 1: short-term approach and Appendix A of this Consultation Paper are requested by 9 August 2018. Comments on Phase 2: medium-term approach of this Consultation Paper are requested by 9 November 2018. Formal Submissions Submissions should be lodged online via the Work in Progress Open for Comment page of the AASB website ( ) as a PDF document and, if possible, a Word document (for internal use only).

ITC 39 5 EXECUTIVE SUMMARY Executive summary 1 The International Accounting Standards Board (IASB) issued a revised Conceptual Framework titled Conceptual Framework for Financial Reporting (referred to throughout this …

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