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About 4 6003688552603322754 PDF
The document discusses the regulatory framework for financial statements and accounting practices. It notes that accounting is a regulated profession, with rules and standards governing preparation of financial statements. The key regulatory bodies are: 1) Companies Act which requires all companies to prepare annual financial statements. 2) Reporting standards like IAS and IFRS which provide guidelines on how to account for transactions and prepare financial statements for comparison. 3) IASB Conceptual Framework which oversees the IASB and other bodies that develop international reporting standards used by many countries. The financial statements provide information to various stakeholder groups like managers, investors, suppliers and governments. Proper regulation ensures statements are prepared uniformly and stakeholders can
Detailed Information
| Author: | ['Hadeel Abdul Salam'] |
|---|---|
| Publication Year: | 2020 |
| Pages: | 21 |
| Language: | English |
| Format: | |
| Price: | FREE |
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