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The IASB and ASBJ Conceptual Frameworks: Same Objective, Different Income Concepts

van Mourik, Carien and Katsuo, Yuko (2015). The IASB and ASBJ Conceptual Frameworks: Same Objective, Different Income Concepts. Accounting Horizons, 29(1) pp. 199–216.

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This paper illustrates that, despite their general agreement on the decision-usefulness objective of general purpose financial reporting, the Accounting Standard Board of Japan (ASBJ) and the International Accounting Standards Board (IASB)'s conceptual frameworks are based on two different concepts of financial performance. By identifying and contrasting the two financial performance concepts and their impact on the rest of the frameworks and by explaining the thinking that underpins the ASBJ's chosen financial performance concept, it contributes to a debate about the role of financial performance concepts in fulfilling the decision-usefulness objective. Such a debate is pertinent to the revision of the IASB's Conceptual Framework, which is scheduled for completion in 2015.

Item Type: Journal Item
Copyright Holders: 2015 American Accounting Association
ISSN: 1558-7975
Project Funding Details:
Funded Project NameProject IDFunding Body
JSPS Kakenhi Grant24530571Japanese Society for the Promotion of Science
Keywords: accounting conceptual frameworks; financial performance concepts; decision usefulness; income theory
Academic Unit/School: Faculty of Business and Law (FBL) > Business > Department for Accounting and Finance
Faculty of Business and Law (FBL) > Business
Faculty of Business and Law (FBL)
Item ID: 48694
Depositing User: Catharina Van Mourik
Date Deposited: 27 Feb 2017 12:47
Last Modified: 07 Dec 2018 10:49
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