17/10/2015 - EFRAG publishes a questionnaire on the proposed definitions of assets and liabilities

Is a deferred tax item for an unused tax loss an asset and are necessary future legal costs related to a restructuring a liability according to the definitions proposed in the IASB Exposure Draft Conceptual Framework for Financial Reporting?

In order to test whether the definitions proposed in the IASB Exposure Draft are understandable, EFRAG asks for your assessment of these items and seven other arrangements.

Participate in the assessment and see whether your interpretation of the proposed definitions is shared by others.

The complete questionnaire is available in a Microsoft Word version EFRAG Questionnaire on the Proposed Definitions of an Asset and of a Liability.doc and in a pdf version EFRAG Questionnaire on the Proposed Definitions of an Asset and of a Liability.pdf:

The completed questionnaire should be received by EFRAG before 15 December 2015.

The responses will be important input in EFRAG's assessment of the proposed definitions and the results will be communicated separately to the IASB in the beginning of 2016 (EFRAG's comment letter in response to the IASB Exposure Draft will be submitted in 2015).

A summary of the responses received will be posted on EFRAG's website.