9483514
Role of Framework
- Nature of Reporting Entity
- Defines what a reporting entity is
- Minimum requirements for financial reports
- Defines what a reporting entity is
- Qualitative Characteristics
- Ensure all financial reports give a true and fair view of business
performance.
- Fundamental Qualitative Characteristics (2)
- Faithful Representation
- Relevance
- Faithful Representation
- Enhancing Qualitative Characteristics (4)
- Understandability
- Comparability
- Verifiability
- Timeliness
- Understandability
- Ensure all financial reports give a true and fair view of business
performance.
- Objectives of GPFR
- To provide information to users that is useful for making
and evaluating decisions
- To ensure reports can be used to hold companies accountable
for the resources they control
- To provide information to users that is useful for making
and evaluating decisions
- Elements of Financial Reports
- Recognition and Measurement Criteria
- Measurement
- Asset
- Liability
- Income
- Expense
- Asset
- Recognition Criteria
- Probability that will occur
- Measured Reliably
- Probability that will occur
- Measurement
- Recognition and Measurement Criteria
Quer criar seus próprios Mapas Mentais gratuitos com a GoConqr? Saiba mais.