International GAAP 2013: Generally Accepted Accounting Principles under International Financial Reporting Standards

Chapter 2

The IASB's Conceptual Framework

1 Introduction

1.1 What is a conceptual framework?

1.2 Why is a conceptual framework necessary

2 The IASB's conceptual framework

2.1 Development of the IASB's Conceptual Framework

2.2 Contents, purpose and scope of the IASB's Conceptual Framework

2.2.1 Contents of the Conceptual Framework

2.2.2 Purpose and scope of the Conceptual Framework

2.2.2.A Purpose

2.2.2.B Scope

2.3 Chapter 1: The objective of general purpose financial reporting

2.3.1 Objective, usefulness and limitations of general purpose financial reporting

2.3.1.A Objective and usefulness

2.3.1.B Limitations

2.3.2 Information about economic resources, claims and changes in resources and claims

2.3.2.A Economic resources and claims

2.3.2.B Changes in economic resources and claims

2.4 Chapter 2: The reporting entity

2.5 Chapter 3: Qualitative characteristics of useful financial information

2.5.1 Fundamental qualitative characteristics

2.5.1.A Relevance (including materiality))

2.5.1.B Faithful representation)

2.5.1.C Applying the fundamental qualitative characteristics)

2.5.2 Enhancing qualitative characteristics

2.5.2.A Comparability)

2.5.2.B Verifiability)

2.5.2.C Timeliness)

2.5.2.D Understandability)

2.5.2.E Applying the enhancing qualitative characteristics)

2.5.3 The cost constraint

2.6 Chapter 4: The Framework (1989): the remaining text

2.6.1 Underlying assumption (going concern)

2.6.2 The elements of financial statements

2.6.2.A Statement of financial position

2.6.2.B Assets ...