AASB Conceptual Framework
Objective, usefulness and limitations of general purpose financial reporting 1.2 The objective of general purpose financial reporting1 is to provide financial information about the reporting entity that is useful to existing and potential investors, lenders and other creditors in making decisions relating
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www.aasb.gov.auPurpose Financial Reporting" identifies the objective of general purpose financial reporting as the disclosure of information useful to users for making and evaluating decisions about the allocation of scarce resources. When general purpose financial reports meet this objective they will also be the means by which preparers of such reports ...
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