The Conceptual Framework for Financial Reporting

*This is a new re-make of our IASB Conceptual Framework - Financial Accounting (FA) & Reporting (FR) – ACCA & CIMA masterclass*

Kaplan Tutor Belinda Wargent talks through the Conceptual Framework for Financial Reporting. Belinda explains the main elements to the framework with examples. This video is relevant to Financial Accounting and Reporting papers across ACCA and CIMA.

MORE ACCA & CIMA REVISION:
   • ACCA and CIMA Revision  

00:00 - 00:50 Intro
00:50 - 01:57 Why do we need a framework?
01:57 - 5:58 What is the framework?
05:58 - 09:49 The Purpose of Financial Reporting
09:49 - 17:16 Qualitative Characteristics
17:16 - 21:19 The Elements
21:19 - 24:55 Recognition Criteria
24:55 - 27:51 Decrecognition Criteria
27:51 - 30:15 Measurement
30:15 - 35:30 Presentation and Disclosure
35:30 - 35:44 Outro