aconceptualframeworkforfinancialreporting-在線瀏覽
2024-10-23 14:28本頁面
【正文】 a whole together with any supplementary information. 9 Qualitative characteristics of FS ? Information must be both relevant and faithfully represented if it is to be useful. ? The usefulness of financial information is enhanced if it is parable, verifiable, timely and understandable. 10 Fundamental ? Relevance – The relevant information influences the economic decisions of users. ? Predictive value : help users to evaluate past, present or future events ? Confirmatory value: help users to confirm or correct their past evaluations 11 – Materiality ? an entityspecific aspect of relevance based on the nature or magnitude (or both) of the items to which the information relates in the context of an individual entity39。 Show corresponding information for the preceding periods 15 ? Verifiability – Verifiability helps to assure users that information represents faithfully the economic phenomena it purports to represent. – Verifiability means that different knowledgeable and independent observers could reach consensus, although not necessarily plete agreement, that a particular depiction is a faithful representation. – Direct or indirect ? Timeliness – means that information is available to decisionmakers in time to be capable of influencing their decisions. ? Understandability – Classifying, characterising and presenting information clearly and concisely makes it understandable. While some phenomena are inherently plex and cannot be made easy to understand, to exclude such information would make financial reports inplete and potentially misleading. – Financial reports are prepared for users who have a reasonable knowledge of business and economic activities and who review and analyse the information with diligence. ? Balance among quality characteristics ? Balance between benefit and cost – Cost is a pervasive constraint on the information that can be provided by general purpose financial reporting. – Reporting such information imposes costs and those costs should be justified by the benefits of reporting that information. 19 Underlying assumptions p182 ? Going concern assumption – the financial statements presume that an entity will continue in operation indefinitely or, if that presumption is not valid, disclosure and a different basis of reporting are required. 20 Exercises 4 F7pilot paper 4 Dec07 4 Jun08 4 Jun11 21 Matching/accruals Calculating cost of sales Substance over form Consignment inventory Prudence Valued at t
教學(xué)課件相關(guān)推薦
鄂ICP備17016276號-1