Page 23 - PowerPoint Presentation
P. 23
THE CONCEPTUAL FRAMEWORK
Objective Of General Purpose Financial Reporting
• Financial statements should present useful
information
• For:
• Investors and lenders - both existing and potential
• Much narrower than internal reporting
• Purpose of useful info
• Decisions about buying / selling / holding entity’s equity
/ debt
• Through information on amount, timing and
uncertainty of returns
3
