ACCA SBR INT Classroom - Syllabus B1. The Application Of An Accounting Framework - Chapters 1-3 1 / 2
a) Discuss the importance of a conceptual framework in underpinning the production of accounting standards.
b) Discuss the objectives of financial reporting including disclosure of information that can be used to help assess management’s stewardship of the entity’s resources and the limitations of financial reporting.
c) Discuss the nature of the qualitative characteristics of useful financial information.
d) Explain the roles of prudence and substance over form in financial reporting.
e) Discuss the high level of measurement uncertainty that can make financial information less relevant.
The Application Of An Accounting Framework - Chapters 1-3