There are many objectives to financial reporting. The following are just some of the many: Tax minimization - a privately owned business who doesn't necessarily care about the net income computed on...
-Relevance - Accounting information is relevant if it is capable of making a difference in a decision. Relevant information has: (a) Predictive value (b) Feedback value (c) Timeliness - Reliability -...
The key financial reporting objectives outlined in the conceptual framework are as follows:
-Usefulness
-Understandability
-Target audience:investors and creditors
-Assessing future cash...