Intermediate Accounting (16th Edition)

Published by Wiley
ISBN 10: 1118743202
ISBN 13: 978-1-11874-320-1

Chapter 2 - Conceptual Framework for Financial Reporting - IFRS Insights - IFRS Concepts and Applications - Page 76: IFRS2-2

Answer

Since 2010, both IASB and FASB have been on the same page regarding the core objective of financial reporting: provision of relevant information that aids interested external users such as creditors in their conclusions regarding whether or not they should or should not deal with the entity in issues such as provision of longterm credit and investment in the entities' equities.

Work Step by Step

Since 2010, both IASB and FASB have been on the same page regarding the core objective of financial reporting: provision of relevant information that aids interested external users such as creditors in their conclusions regarding whether or not they should or should not deal with the entity in issues such as provision of longterm credit and investment in the entities' equities.
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