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CONFIDENTIAL: NOT FOR RELEASE FASB MEETING—MAY 2, 2007 TO UNAPPROVED PARTIES, FASB MEMORANDUM 53 THE PUBLIC OR THE PRESS IASB MEETING—APRIL 2007 IASB AGENDA PAPER 5A Conceptual Framework Phase A Redeliberations: Issues Related to the Conceptual Framework Project in General Staff contacts: Jeff Johnson, [email protected]Tel +1 203 956 5359 Ron Bossio, [email protected]Tel +1 203 956 5213 Ann Benson, [email protected] Tel +1 203 956 3446 Li Li Lian, [email protected]Tel +44 20 7246 6486 INTRODUCTION 1.At the Boards’ February meetings, the staff presented an analysis of comments received related to the Discussion Paper (DP), Preliminary Views on an Improved Conceptual Framework for Financial Reporting: The Objective of Financial Reporting and Qualitative Characteristics of Decision-Useful Financial Reporting Information. The Boards received some comments that were not specific to Phase A, but rather addressed issues related to the conceptual framework project in general. This paper discusses those comments and the staff’s plans for addressing them. 2.In cases where the staff directly quotes a comment letter received, the staff chose not to directly identify the respondent and letter number. Rather, endnotes are provided for quotes that identify the quoted respondents. REDELIBERATIONS RELATED TO GENERAL COMMENTS 3.After analyzing the comments received on the DP, the staff identified two issues related to the general conceptual framework project for the Boards’ consideration. Those issues are
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