FAC4861/3 FINANCIAL ACCOUNTING ITOPIC 1

THE CONCEPTUAL FRAMEWORK FOR FINANCIAL REPORTING

Introduction

Outcomes

Objective of general purpose financial reporting

Objective of general purpose financial reporting

Qualitative characteristics of useful financial information

Qualitative characteristics of useful financial information

Elements of the financial statements

Elements of the financial statements

Enhancing Characteristics

Enhancing Characteristics

Elements of the financial statements

Elements of the financial statements

Elements of the financial statements

Elements of the financial statements

Elements of the financial statements

Measurement & Capital Maintenance

Measurement

Capital Maintenance

Capital Maintenance

Practice Question

Suggested solution

Suggested solution