Financial Accounting is concerned with

General purpose reports on financial position and financial performance

Which of the following is not the purpose of the Conceptual Framework?

contribute to transparency by enhancing the international comparability and quality of financial information, ena
decision

purpose:
ssist the International Accounting Standards Board (Board) to develop IFRS Standards (Standards) that are ba
help preparers to develop consistent accounting policies when no standard applies to a particular transaction o
assist all parties to understand and interpret the Standards

The Conceptual Framework is intended to establish

The objectives and concepts for use in developing standards of financial accounting and reporting

Which of the following is not related to relevance?

 The descriptions and figures must match what really existed or happened.

related to relevance
Timely financial information with predictive and confirmatory value is presented.
 The financial information must be capable of making a difference in the decisions made by users.
he statement of financial position is used in determining financial position.

The IASB publishes standards called

International Financial Reporting Standards