31386 paragraphs found
Some financial reporting frameworks may refer to an entity’s economic resources or obligations in other terms. For example, these may be referred to as the entity’s assets and liabilities, and the residual difference between them may be referred to as …
Explanatory or descriptive information required to be included in the financial statements by the applicable financial reporting framework may be incorporated therein by cross‑reference to information in another document, such as a management report or a …
The auditor’s opinion on the financial report deals with whether the financial report is prepared, in all material respects, in accordance with the applicable financial reporting framework. Such an opinion is common to all audits of financial reports. …
Law or regulation may establish the responsibilities of management and, where appropriate, those charged with governance in relation to financial reporting. However, the extent of these responsibilities, or the way in which they are described, may differ …
The preparation of a financial report by management and, where appropriate, those charged with governance requires: The identification of the applicable financial reporting framework, in the context of any relevant laws or regulations. The preparation …
The financial report may be prepared in accordance with a financial reporting framework designed to meet: The common financial information needs of a wide range of users (that is, a “general purpose financial report”); or The financial information …
The applicable financial reporting framework often encompasses financial reporting standards established by an authorised or recognised standards setting organisation, or legislative or regulatory requirements. In some cases, the financial reporting …
An applicable financial reporting framework that may be used in preparing a financial report is represented by the Australian Accounting Standards issued by the Australian Accounting Standards Board (AASB), and relevant law, such as the Corporations …