Скачать или смотреть 12. IFRS Conceptual Framework Explained: Faithful Representation — Reflecting Reality Accurately

🎥 IFRS Conceptual Framework: Faithful Representation Made Simple

In this video, we explain the meaning of faithful representation—one of the two fundamental qualitative characteristics of useful financial information under the IFRS Conceptual Framework.

You’ll learn how financial statements should reflect the economic substance of transactions, not just their legal form. We break it down in an easy-to-understand way with practical examples to help you see what accurate, neutral, and complete reporting really looks like.

📘 What You’ll Learn:

What is faithful representation under IFRS?

Why economic substance matters more than legal form

Key components: completeness, neutrality, and freedom from error

Real-world examples of faithful vs. misleading reporting

Why faithful representation is critical for auditors, accountants, and users

📚 Ideal For:

Accounting students (CA, ACCA, CPA, CIMA)

Financial reporting professionals

Auditors and corporate accountants

Anyone preparing or analysing financial statements

🔍 Tags: faithful representation IFRS, IFRS conceptual framework explained, substance over form, IFRS accounting concepts, neutrality IFRS, faithful reporting, IFRS for students, qualitative characteristics of financial information, accounting principles, IFRS accuracy