Page 19 - Financial Accounting 1 ITC Preparation June 2018

ITC EXAM PREP – JUNE 2018

FRAMEWORK STRUCTURE

MAIN FOCUS

 Objective of financial reporting

 Qualitative characteristics (VERY IMPORTANT)

 Key concepts (VERY IMPORTANT)

 Elements of the financial statements

 Definitions and recognition criteria (VERY IMPORTANT)

 Measurement of elements of financial statements

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