Page 27 - PowerPoint Presentation
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THE CONCEPTUAL FRAMEWORK



            Elements Of The Financial Statements








            Fundamental Characteristics:




            1. Relevance



                    • Capable of making a difference to decisions -

                       Predictive and / or confirmatory i.e. evaluation past,

                       present or further evaluations.


                    • Materiality


                           • Omitting or misstating could influence decisions


                           • Entity specific


                           • Material by nature and magnitude






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