The International Accounting Standards Board (IASB) in conjunction with the Financial Accounting Standards Board (FASB) are going through a process of revising the conceptual framework (the Framework for the Preparation and Presentation of Financial Statements). This process is expected to take a number of years to complete. As part of that work they are addressing ‘measurement’ issues.

Could the IASB and the FASB use techniques from behavioural accounting research in revising the conceptual framework and, if so, how?