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  • Regulatory Framework Chapter 02 090825021152 Phpapp01

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    thensuresh
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    The document discusses the regulatory framework for financial reporting. It explains that regulatory frameworks aim to ensure relevant and reliable financial reporting. It then compares principles-based and rules-based systems, noting that principles-based systems can become outdated over time without proper maintenance. The International Accounting Standards Board (IASB) is introduced as the independent organization responsible for developing International Financial Reporting Standards (IFRS). The IASB works to develop IFRS through an open process and coordinates with other standard-setting bodies globally to promote consistent standards worldwide.

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    financial service regulations

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    The document discusses the regulatory framework for financial reporting. It explains that regulatory frameworks aim to ensure relevant and reliable financial reporting. It then compares principles-based and rules-based systems, noting that principles-based systems can become outdated over time without proper maintenance. The International Accounting Standards Board (IASB) is introduced as the independent organization responsible for developing International Financial Reporting Standards (IFRS). The IASB works to develop IFRS through an open process and coordinates with other standard-setting bodies globally to promote consistent standards worldwide.

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    © All Rights Reserved
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    Markieren Sie unangemessene Inhalte
    10 Ansichten21 Seiten

    Regulatory Framework Chapter 02 090825021152 Phpapp01

    Hochgeladen von

    thensuresh
    The document discusses the regulatory framework for financial reporting. It explains that regulatory frameworks aim to ensure relevant and reliable financial reporting. It then compares principles-based and rules-based systems, noting that principles-based systems can become outdated over time without proper maintenance. The International Accounting Standards Board (IASB) is introduced as the independent organization responsible for developing International Financial Reporting Standards (IFRS). The IASB works to develop IFRS through an open process and coordinates with other standard-setting bodies globally to promote consistent standards worldwide.

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    Markieren Sie unangemessene Inhalte
    von 21

    REGULATORY FRAMEWORK

    Financial Reporting

    Regulatory Framework
    ACCA Paper F 7 Financial Reporting by SBM : School of Business and Management 1
    REGULATORY FRAMEWORK

    RF ensure the relevant and reliable financial reporting

    Regulatory Framework ACCA Paper F 7 Financial Reporting by SBM : School of Business and Management 2
    FRAMEWORK
    Principles-based versus rules-based
    systems
    Principles-based System

    Regulatory Framework ACCA Paper F 7 Financial Reporting by SBM : School of Business and Management 3
    FRAMEWORK
    Problems of a principles-based system
    Out of date

    Regulatory Framework ACCA Paper F 7 Financial Reporting by SBM : School of Business and Management 4
    IASB

    Conceptual Framework ACCA Paper F 7 Financial Reporting by SBM : School of Business and Management 5
    IASB
    Introduction

    Conceptual Framework ACCA Paper F 7 Financial Reporting by SBM : School of Business and Management ;
    www.ifrsmultiplyer.com 6
    IASB - Objectives
    Objectives

    Conceptual Framework ACCA Paper F 7 Financial Reporting by SBM : School of Business and Management ;
    www.ifrsmultiplyer.com 7
    IASB - Structure

    Conceptual Framework ACCA Paper F 7 Financial Reporting by SBM : School of Business and Management ;
    www.ifrsmultiplyer.com 8
    IASB - Structure
    IASC Foundation - Trustees

    Conceptual Framework ACCA Paper F 7 Financial Reporting by SBM : School of Business and Management ;
    www.ifrsmultiplyer.com 9
    IASB - Structure

    Conceptual Framework ACCA Paper F 7 Financial Reporting by SBM : School of Business and Management ;
    www.ifrsmultiplyer.com 10
    IASB - Structure
    IFRIC

    Conceptual Framework ACCA Paper F 7 Financial Reporting by SBM : School of Business and Management ;
    www.ifrsmultiplyer.com 11
    IASB International
    influences
    EC

    Conceptual Framework ACCA Paper F 7 Financial Reporting by SBM : School of Business and Management ;
    www.ifrsmultiplyer.com 12
    IASB International
    influences
    OECD

    Conceptual Framework ACCA Paper F 7 Financial Reporting by SBM : School of Business and Management ;
    www.ifrsmultiplyer.com 13
    IFRS

    Conceptual Framework ACCA Paper F 7 Financial Reporting by SBM : School of Business and Management 14
    IFRS Due Process The agenda
    initially set by discussion with SAC

    Conceptual Framework ACCA Paper F 7 Financial Reporting by SBM : School of Business and Management ;
    www.ifrsmultiplyer.com 15
    IFRS Co-ordination with National
    standard setters

    Conceptual Framework ACCA Paper F 7 Financial Reporting by SBM : School of Business and Management ;
    www.ifrsmultiplyer.com 16
    IFRS Liaison members

    Conceptual Framework ACCA Paper F 7 Financial Reporting by SBM : School of Business and Management ;
    www.ifrsmultiplyer.com 17
    IFRS

    Conceptual Framework ACCA Paper F 7 Financial Reporting by SBM : School of Business and Management ;
    www.ifrsmultiplyer.com 18
    IFRS
    Interpretation of IFRS

    Conceptual Framework ACCA Paper F 7 Financial Reporting by SBM : School of Business and Management ;
    www.ifrsmultiplyer.com 19
    World-wide effect of IFRS & IASB
    Europe

    Conceptual Framework ACCA Paper F 7 Financial Reporting by SBM : School of Business and Management ;
    www.ifrsmultiplyer.com 20
    World-wide effect of IFRS & IASB
    Europe

    Conceptual Framework ACCA Paper F 7 Financial Reporting by SBM : School of Business and Management ;
    www.ifrsmultiplyer.com 21

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