Proceedings of the 2025 International Conference on Financial Innovation and Marketing Management (FIMM 2025)

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Critical Analyses on Conceptual Framework for Financial Reporting

Authors
Qifan Yin1, *
1Business School, Chengdu University of Technology, Chengdu, China
*Corresponding author. Email: yin.qifan@student.zy.cdut.edu.cn
Corresponding Author
Qifan Yin
Available Online 3 November 2025.
DOI
10.2991/978-94-6463-874-5_4How to use a DOI?
Keywords
IASB Conceptual Framework; Stewardship; Prudence Principle; Asset and Liability Definitions; Financial Reporting Quality
Abstract

The 2018 revised Conceptual Framework for Financial Reporting by the International Accounting Standards Board represents a strategic response to the increasing complexity of the global economic environment and the diversification of financial information needs. This study focuses on three core revisions: (1) the redefinition of stewardship, reinforcing the accountability dimension of management’s resource oversight; (2) the reinstatement of the prudence principle, establishing a financial reporting buffer mechanism under uncertainty; and (3) the paradigm shift in the definitions of assets and liabilities, replacing the “expected flow of economic benefits” with a “potential to produce economic benefits” criterion. Through systematic literature analysis, the findings reveal that while these revisions theoretically enhance the decision-usefulness of financial information, they also expose structural contradictions in practice, such as insufficient industry adaptability and ambiguous operational standards. The research not only elucidates the intrinsic logic of the conceptual framework’s evolution but also provides policy optimization pathways for future IASB revisions within a cross-cultural context.

Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2025 International Conference on Financial Innovation and Marketing Management (FIMM 2025)
Series
Advances in Economics, Business and Management Research
Publication Date
3 November 2025
ISBN
978-94-6463-874-5
ISSN
2352-5428
DOI
10.2991/978-94-6463-874-5_4How to use a DOI?
Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Qifan Yin
PY  - 2025
DA  - 2025/11/03
TI  - Critical Analyses on Conceptual Framework for Financial Reporting
BT  - Proceedings of the 2025 International Conference on Financial Innovation and Marketing Management (FIMM 2025)
PB  - Atlantis Press
SP  - 23
EP  - 29
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-874-5_4
DO  - 10.2991/978-94-6463-874-5_4
ID  - Yin2025
ER  -