The objective of general purpose financial reporting is to provide financial
information about the reporting entity that is useful to present and potential
equity investors, lenders and other creditors in making decisions about
providing resources to the entity.
International Accounting Standards Board (IASB) Conceptual Framework
Drawing on the material covered in the module, and other appropriate accounting
research literature, critically evaluate the above assertion from the IASB
The term “critically evaluate” has the following meaning:
Give your verdict as to what extent you agree with an assertion. Provide evidence
taken from a range of sources which both agree with and contradict the statement.
Come to a final conclusion, basing your decision on what you judge to be the most
important factors and justify how you have made your choice.
Module Learning Outcomes Assessed:
1. Assess the implications of accounts for management decision-making and/or strategy
2. Evaluate theories concerning the role(s) played by accounting in organisations and