Current Status of the Conceptual Framework Project $(12$ points$)$: In October $2004,$ the FASB and IASB announced a joint project aimed at developing an improved common conceptual framework that was to build on their existing frameworks. This single conceptual framework was to serve as the foundation for the development of financial accounting and reporting. In $2010,$ the FASB decided that because of the priority placed on other projects. it could not devote the time necessary to properly address the remaining CFP issues. In May $2012,$ the $1$ASB announced that it would resume deliberations on the CFP as an IASB$-$run project, that is$,$ no longer as a joint project with the FASB. In $2014,$ the FASB also reactivated the CFP$.$ The FASB's approach was to build on the output of the joint project.

i$.$ What is the current status of the initial, joint and reactivated CFPs$?$