Measurement bases for financial reporting

In 2005, the International Accounting Standards Board issued Measurement Bases for Financial Accounting – Measurement on Initial Recognition. The Discussion Paper analyzes possible bases of measurement for assets and liabilities on initial recognition. Issues relating to re-measurement, including impairment, will be dealt with in subsequent papers. The conclusions reached are tentative and will be re-assessed when their potential implications for re-measurement are considered in subsequent papers. The project summary and comment letters are available on the IASB website.