In determining what recognition, valuation, and disclosure requirements should be used, a company uses the following hierarchy: (1) IFRS, IAS, and IFRS and IAS interpretations; (2) FASB Standards; (3) Conceptual Framework. (1) IFRS, IAS, and IFRS and IAS interpretations; (2) the Conceptual Framework; (3) Pronouncements of other standard-setting bodies that use a similar conceptual framework. (1) The Conceptual Framework; (2) IFRS, IAS, and IFRS and IAS interpretations, and (3) Pronouncements of other standard-setting bodies that use a similar conceptual framework. (1) IFRS, IAS, and IFRS and IAS interpretations; (2) tax laws; (3) Pronouncements of other standardsetting bodies that use a similar conceptual framework. None of the above