Faithful representation and PBOC: Difference between pages

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''Financial reporting - accounting concepts.''
People's Bank of China.  
 
Under the IFRS Conceptual Framework, faithful representation means representation of the substance of an economic phenomenon instead of representation of its legal form only.
 
A faithful representation seeks to maximise the underlying characteristics of completeness, neutrality and freedom from error.
 
 
Information must be both relevant and faithfully represented, if it is to be useful.




== See also ==
== See also ==
* [[Conceptual framework]]
* [[PROC]]
* [[Neutrality]]
* [[Renminbi]]
* [[Relevance]]
* [[Substance over form]]
* [[True and fair view]]
* [[Useful financial information]]
 
[[Category:Accounting,_tax_and_regulation]]

Revision as of 08:44, 16 April 2014

People's Bank of China.


See also