The eight phases of the joint FASB and IASB framework project are: 1) objective and qualitative characteristics, 2) elements and recognition, 3) presentation and disclosure, 4) reporting entity, 5) measurement, 6) framework for GAAP hierarchy, 7) applicability to the not-for-profit sector, and 8) any remaining issues needing to be addressed.

Question

Quizplus · Accepted Answer

The given statement correctly lists the eight phases of the joint FASB and IASB framework project.

The Eight Phases of the Joint FASB and IASB Framework