FASB, IASB seek comments on conceptual framework documents.

The Financial Accounting Standards Board (www.fasb.org) and the International Accounting Standards Board (www.iasb.org) have published consultative documents that seek public comment on two of the eight phases of their joint project to develop an improved conceptual framework. Comments on both documents are due by Sept. 29.

The first document published was an exposure draft of chapters 1 and 2 of the framework. The ED, "An improved Conceptual Framework for Financial Reporting: Chapter 1: The Objective of Financial Reporting and Chapter 2: Qualitative Characteristics and Constraints of...

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