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 … Read more