Conceptual Framework

The Conceptual Framework for Financial Reporting (the ‘Conceptual Framework’) describes the objective of, and the concepts for, general purpose financial reporting.

Introduction

The Objective of General Purpose Financial Reporting

Qualitative Characteristics of Useful Financial Information
Financial statements and the reporting entity

Financial Statements

Reporting entity

The Elements of Financial Statements

Introduction

Definition of an asset

Definition of a Liability

Asset and Liabilities

Definition of equity

Definition of income and expenses

Recognition and derecognition

The recognition process

Recognition criteria

Derecognition

Measurement

Introduction

Measurement basis

Information provided by particular measurement bases

Factors to consider when selecting a measurement basis

Measurement of equity

Cash-flow based measurement techniques

Presentation and Disclosure
Concepts of Capital and Capital Maintenance