Lessee and Relevance: Difference between pages
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''Financial reporting - accounting concepts.'' | |||
Under the IFRS Conceptual Framework, relevant financial information means information that is capable of making a difference in the decisions made by users. | |||
Financial information is capable of making a difference in decisions if it has: | |||
*Predictive value | |||
*Confirmatory value or | |||
*Both. | |||
The predictive value and confirmatory value of financial information are interrelated. | |||
Information must be both relevant and faithfully represented, if it is to be useful. | |||
== See also == | == See also == | ||
* [[ | * [[Conceptual framework]] | ||
* [[ | * [[Faithful representation]] | ||
* [[Useful financial information]] | |||
[[Category: | [[Category:Accounting,_tax_and_regulation]] | ||
Revision as of 13:54, 29 October 2020
Financial reporting - accounting concepts.
Under the IFRS Conceptual Framework, relevant financial information means information that is capable of making a difference in the decisions made by users.
Financial information is capable of making a difference in decisions if it has:
- Predictive value
- Confirmatory value or
- Both.
The predictive value and confirmatory value of financial information are interrelated.
Information must be both relevant and faithfully represented, if it is to be useful.
