3599021
Description
Mind Map by Liz Barraclough, updated more than 1 year ago
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Conceptual Framework Lesson
- Statements
- Statement of profit or loss and other comprehensive income
- Statement of Financial Position
- Statement of Cash Flows
- Statement of Changes in Equity
- Statement of profit or loss and other comprehensive income
- Concepts
- Accruals
- Materiality
- Going Concern
- Entity
- Single entity
- Group
- Single entity
- Accruals
- Qualitative Characterstics
- Faithful representation and Relevance
- Comparability
- verifiability
- timeliness
- understandability
- Comparability
- Faithful representation and Relevance
- External Users
- Investors
- Potential Investors
- Lenders
- Suppliers and other trade payables
- Customers
- Government
- Government
Agency
- The general public
- Investors
- Elements
- Assets
- Liabilities
- Equity
- Income
- Expenses
- Assets
- Objective
- Accounting Equation
- Assets minus liabilities = equity
- Assets minus liabilities = equity
- Accounting Equation
- Structure
- incorporated
- private limited company
- public limited company
- private limited company
- unincorporated
- Sole Trader
- Partnerships
- Sole Trader
- incorporated
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