Which of the following is not objective of the Conceptual Framework?Expert-Verified Answer. According to the IASB Conceptual framework which of the following is not an objective of financial statements is - Helping to assess the going concern status of a business (option d).
Which of the following can be a purpose of the Conceptual Framework?The primary purpose of the Conceptual Framework was to assist the IASB in the development of future IFRSs and in its review of existing IFRSs. The Conceptual Framework may also assist preparers of financial statements in developing accounting policies for transactions or events not covered by existing standards.
What are the three components of Conceptual Framework?Conceptual frameworks can be written or visual and are generally developed based on a literature review of existing studies about your topic.. Step 1: Choose your research question. ... . Step 2: Select your independent and dependent variables. ... . Step 3: Visualize your cause-and-effect relationship.. What are the four key elements of the Conceptual Framework?Conceptual Framework - Definition of elements (IASB). In the statement of financial position – assets, liabilities and equity.. In the statement of comprehensive income – income and expense.. |