Language Barriers to commenting on IASB proposals

A recent paper looked at whether language barriers deter people from responding to IASB exposure drafts. It also discussed whether the IASB pays too little attention to comment letters from countries where the main language is very different from English. The paper “No Comment”: Language Barriers and the IASB’s Comment Letter Process, by Eduardo Flores,… Continue reading Language Barriers to commenting on IASB proposals

Is there such a thing as unrecognised income or expense?

The IASB’s Conceptual Framework for Financial Reporting and IFRS Standards discuss both recognised assets and liabilities and unrecognised assets and liabilities. A question that sometimes comes up whether there exists a corresponding notion of unrecognised income and expenses. Unrecognised assets and unrecognised liabilities The Conceptual Framework acknowledges that not all assets and liabilities are not… Continue reading Is there such a thing as unrecognised income or expense?