Conceptual Framework Flashcards
The ______________ of the Conceptual Framework is to © assist all parties to understand and interpret the standards.
purpose
The purpose of the _____________________ is to © assist all parties to understand and interpret the standards.
Conceptual Framework
The purpose of the Conceptual Framework is to ____ assist all parties to understand and interpret the standards.
©
The purpose of the Conceptual Framework is to © assist _______________ to understand and interpret the standards.
assist all parties
The purpose of the Conceptual Framework is to © assist all parties ____________________________.
to understand and interpret the standards.
The purpose of the Conceptual Framework is to © assist all parties _____________ and interpret the standards.
to understand
The purpose of the Conceptual Framework is to © assist all parties to understand and ____________ the standards.
interpret
The purpose of the Conceptual Framework is to © assist all parties to understand and interpret _____________.
the standards
______________ on important topics, the role of stewardship, and measurement uncertainty in financial reporting
clarifications
clarifications ________________, the role of stewardship, and measurement uncertainty in financial reporting
on important topics
c____________ o___ i____________ t___________, the role of stewardship, and measurement uncertainty in financial reporting
clarifications on important topics
the revised framework (March 2018) includes a new chapter on measurement, ______________reporting financial performance, improved definitions and guidance (e.g. the roles of stewardship, prudence and measurement in financial reporting).
guidance on
the revised framework (March 2018) includes a new chapter on measurement, guidance on ___________ financial performance, improved definitions and guidance (e.g. the roles of
stewardship, prudence and measurement in financial reporting).
the revised framework (March 2018) includes a new chapter on measurement, guidance on reporting _____________, improved definitions and guidance (e.g. the roles of stewardship, prudence and measurement in financial reporting).
financial performance
the revised framework (March 2018) includes a new chapter on measurement, g________ o__ r_________ f____________ p___________, improved definitions and guidance (e.g. the roles of stewardship, prudence and measurement in financial reporting).
guidance on reporting financial performance
IASB maintains that the _______________ does not override any specific (IFRS) standard.
Conceptual framework
IASB maintains that the Conceptual framework ____________ any specific (IFRS) standard.
does not override
IASB maintains that the Conceptual framework does not override ___________________.
any specific (IFRS) standard
IASB maintains that the Conceptual framework do___ not ov________ any specific (IFRS) standard.
does not override
The term asset is defined in part ___ of the New Zealand Conceptual Framework.
4
The term asset is defined in part 4 of the ________________________.
New Zealand Conceptual Framework
Under part 4 of the New Zealand Conceptual Framework:-
An asset is a:-
• Present economic resource controlled by the entity as a result of past events;
• An __________________ is a right that has the potential to produce economic benefits.
economic resource
Under part 4 of the New Zealand Conceptual Framework:-
An asset is a:-
• Present economic resource controlled by the entity as a result of past events;
• An economic resource is a _______ that has the potential to produce economic benefits.
right
Under part 4 of the New Zealand Conceptual Framework:-
An asset is a:-
• Present economic resource controlled by the entity as a result of past events;
• An economic resource is a right that _________________ to produce economic benefits.
has the potential
