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Conceptual Framework - Questionnaire on the proposed definitions of assets and liabilities


In May 2015 the IASB issued the Exposure Draft Conceptual Framework for Financial Reporting. The Exposure Draft proposed to amend the definitions of assets and liabilities and the accompanying guidance.

In order to test whether the definitions proposed in the Exposure Draft were understandable, EFRAG published a questionnaire where constituents were asked to assess whether nine arrangements resulted in items that would meet the proposed definitions. 

The Questionnaire was available in a Microsoft Word version and in a pdf version:

EFRAG asked for the completed questionnaires to be returned by  15 December 2015.

On 16 March 2016 EFRAG published a summary of the responses recieved and provided the IASB staff with the results of the study.

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