Relevance: Difference between revisions
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imported>Doug Williamson (Create page. Source: IAS Plus webpage https://www.iasplus.com/en/standards/other/framework) |
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Revision as of 11:55, 17 February 2019
Financial reporting.
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.
