Conceptual Framework for Financial Reporting

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Conceptual Framework for Financial Reporting
Conceptual Framework for Financial Reporting was issued by the International Accounting
Standards Board in September 2010. It was revised in March 2018.
Conceptual Framework
© IFRS Foundation
A13

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C
ONTENTS
from paragraph
STATUS AND PURPOSE OF THE CONCEPTUAL FRAMEWORK
SP1.1
CHAPTER 1—THE OBJECTIVE OF GENERAL PURPOSE
FINANCIAL REPORTING
INTRODUCTION
1.1
OBJECTIVE, USEFULNESS AND LIMITATIONS OF GENERAL PURPOSE
FINANCIAL REPORTING
1.2
INFORMATION ABOUT A REPORTING ENTITY’S ECONOMIC RESOURCES,
CLAIMS AGAINST THE ENTITY AND CHANGES IN RESOURCES AND
CLAIMS
1.12
Economic resources and claims
1.13
Changes in economic resources and claims
1.15
Financial performance reflected by accrual accounting
1.17
Financial performance reflected by past cash flows
1.20
Changes in economic resources and claims not resulting from financial
performance
1.21
INFORMATION ABOUT USE OF THE ENTITY’S ECONOMIC RESOURCES
1.22
CHAPTER 2—QUALITATIVE CHARACTERISTICS OF USEFUL
FINANCIAL INFORMATION
INTRODUCTION
2.1
QUALITATIVE CHARACTERISTICS OF USEFUL FINANCIAL INFORMATION
2.4
Fundamental qualitative characteristics
2.5
Enhancing qualitative characteristics
2.23
THE COST CONSTRAINT ON USEFUL FINANCIAL REPORTING
2.39
CHAPTER 3—FINANCIAL STATEMENTS AND THE