1 A B C D E F G H I J K L M N O P Q R S T U V W

General purpose financial statements

Financial definition – General purpose financial statements (referred to as ‘financial statements’) are those intended to meet the needs of users who are not in a position to require an entity to prepare reports tailored to their particular information needs.

Sustainability defintion

Reports that provide financial information about a reporting entity that is useful to primary users in making decisions relating to providing resources to the entity. Those decisions involve decisions about:

  • buying, selling or holding equity and debt instruments;
  • providing or selling loans and other forms of credit; or
  • exercising rights to vote on, or otherwise influence, the entity’s management’s actions that affect the use of the entity’s economic resources.

General purpose financial reports include-but are not restricted to-an entity’s general purpose financial statements and sustainability-related financial disclosures.




IFRS terms or definitions come from the Official Journal of the European Union (© European Union, https://eur-lex.europa.eu). Individual jurisdictions around the world may require or permit the use of (locally authorised and/or amended) IFRS Standards for all or some publicly listed companies. The specific status of IFRS Standards should be checked in each individual jurisdiction. The information provided on this website is for general information and educational purposes only and should not be used as a substitute for professional advice. Use at your own risk. Annualreporting is an independent website and it is not affiliated with, endorsed by, or in any other way associated with the IFRS Foundation. For official information concerning IFRS Standards, visit IFRS.org or the local representative in your jurisdiction.