BC3.12 The definition of relevance

BC3.12 The definition of relevance in the Conceptual Framework is consistent with the definition in FASB Concepts Statement No. 2, Qualitative Characteristics of Accounting Information. The definition of relevance in the Framework (1989) was that information is relevant only if it actually makes a difference in users’ decisions. However, users consider a variety of information from many sources, and the extent to which a decision is affected by a particular economic phenomenon is difficult, if not impossible, to determine, even after the fact.

BC3.13 In contrast, whether information is capable of making a difference in a decision (relevance as defined in the Conceptual Framework) can be determined. One of the primary purposes of publishing Exposure Drafts and other due process documents is to seek the views of users on whether information that would be required by proposed financial reporting standards is capable of making a difference in their decisions. The Board also assesses relevance by meeting with users to discuss proposed standards, potential agenda decisions, effects on reported information from applying recently implemented standards, and other matters.

Predictive and confirmatory value

BC3.14 Many decisions by investors, lenders, and other creditors are based on implicit or explicit predictions about the amount and timing of the return on an equity investment, loan, or other credit instrument. Consequently, information is capable of making a difference in one of those decisions only if it will help users to make new predictions, confirm or correct prior predictions, or both (which is the definition of predictive or confirmatory value).

BC3.15 The Framework (1989) identified predictive value and confirmatory value as components of relevance, and Concepts Statement 2 referred to predictive value and feedback value. The Board concluded that confirmatory value and feedback value were intended to have the same meaning. The Board and the IASB agreed that both Boards would use the same term (confirmatory value) to avoid giving the impression that the two frameworks were intended to be different.

The difference between predictive value and related statistical terms

BC3.16 Predictive value, as used in the Conceptual Framework, is not the same as predictability and persistence as used in statistics. Information has predictive value if it can be used in making predictions about the eventual outcomes of past or current events. In contrast, statisticians use predictability to refer to the accuracy with which it is possible to foretell the next number in a series and persistence to refer to the tendency of a series of numbers to continue to change as it has changed in the past.

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BC3.12 definisi relevansi dalam kerangka kerja konseptual konsisten dengan definisi dalam FASB konsep pernyataan No. 2, kualitatif karakteristik akuntansi informasi. Definisi relevansi dalam kerangka kerja (1989) adalah bahwa informasi relevan hanya jika itu benar-benar membuat perbedaan dalam keputusan-keputusan pengguna. Namun, pengguna menganggap berbagai informasi dari banyak sumber, dan sejauh mana keputusan dipengaruhi oleh fenomena ekonomi tertentu sulit, jika tidak mustahil, untuk menentukan, bahkan setelah fakta.BC3.13 sebaliknya, Apakah informasi mampu membuat perbedaan dalam keputusan (relevansi sebagaimana didefinisikan dalam kerangka kerja konseptual) dapat ditentukan. Salah satu tujuan utama penerbitan Exposure draft dan dokumen proses lain adalah untuk mencari pandangan pengguna informasi yang akan diperlukan oleh standar pelaporan keuangan yang diusulkan adalah mampu membuat perbedaan dalam keputusan mereka. Dewan juga menilai relevansi dengan pertemuan dengan pengguna untuk mendiskusikan standar yang diusulkan, potensi agenda keputusan, efek pada informasi yang dilaporkan dari menerapkan baru-baru ini menerapkan standar, dan hal-hal lain.Nilai prediktif dan konfirmasiBC3.14 Many decisions by investors, lenders, and other creditors are based on implicit or explicit predictions about the amount and timing of the return on an equity investment, loan, or other credit instrument. Consequently, information is capable of making a difference in one of those decisions only if it will help users to make new predictions, confirm or correct prior predictions, or both (which is the definition of predictive or confirmatory value).BC3.15 The Framework (1989) identified predictive value and confirmatory value as components of relevance, and Concepts Statement 2 referred to predictive value and feedback value. The Board concluded that confirmatory value and feedback value were intended to have the same meaning. The Board and the IASB agreed that both Boards would use the same term (confirmatory value) to avoid giving the impression that the two frameworks were intended to be different.The difference between predictive value and related statistical termsBC3.16 Predictive value, as used in the Conceptual Framework, is not the same as predictability and persistence as used in statistics. Information has predictive value if it can be used in making predictions about the eventual outcomes of past or current events. In contrast, statisticians use predictability to refer to the accuracy with which it is possible to foretell the next number in a series and persistence to refer to the tendency of a series of numbers to continue to change as it has changed in the past.