TAILIEUCHUNG - Lecture Framework of financial reporting - Lecture 1

The main contents of the chapter consist of the following: The regulatory system, a conceptual framework, a concept and regulatory framework, harmonisation of accounting standards – disadvantages, the standard setting process, IFRS foundation,. | Revise Lecture 1 1 Framework of Financial Reporting 1. The regulatory system 2. A conceptual framework 2 A Concept and Regulatory Framework The regulatory system 3 A Concept and Regulatory Framework The regulatory framework of accounting in each country which uses IFRS is affected by a number of legislative and quasi-legislative influences as well as IFRS National company law EU directives Security exchange rules 4 A Concept and Regulatory Framework Why a regulatory framework is necessary? Regulation of accounting information is aimed at ensuring that users of financial statements receive a minimum amount of information that will enable them to make meaningful decisions regarding their interest in a reporting entity. 5 A Concept and Regulatory Framework Why a regulatory framework is necessary? A regulatory framework is required to ensure that relevant and reliable financial reporting is achieved to meet the needs of shareholders and other users. 6 A Concept and Regulatory Framework Why a regulatory framework is necessary? Accounting standards on their own would not be a complete regulatory framework. In order to fully regulate the preparation of financial statements and the obligations of companies and directors, legal and market regulations are also required. 7 A Concept and Regulatory Framework Principles-based and Rules-based framework 8 A Concept and Regulatory Framework Principles-based framework Based upon a conceptual framework such as the IASB’s framework Accounting standards are set on the basis of the conceptual framework 9 A Concept and Regulatory Framework Rules-based framework ‘Cookbook’ approach Accounting standards are a set of rules which companies must follow In the UK there is a principles-based framework in terms of the statement of principles and accounting standards and a rules-based framework in terms of the companies Acts, EU directives and stock exchange rulings. 10 A Concept and Regulatory Framework Harmonisation of accounting standards .

• Tài chính doanh nghiệp
• Financial Reporting
• Framework of financial reporting
• Lecture Framework of financial reporting
• Regulatory system
• Financial statements
• Reporting financial performance
• Reporting financial performance
• Financial accounting
• International financial reporting standards
• Financial reporting standards
• Merchandising operations
• Internal control
• Stockholders’ equity
• Financial statement analysis
• Financial information
• Economics of accounting information
• Computer associates international
• Financial reporting for leases
• Lease contracts
• Lessee accounting
• International financial reporting
• Conceptual framework
• Financial position
• Interpreting financial statements
• Consolidated financial statements
• Financial statements comprises
• Corporate financial reporting
• Group financial statements
• Sustainability reporting
• Reporting through XBRL
• Government accounting in india
• Regulatory framework
• Contingent liabilities