Question

Decision usefulness is an important accounting concept.

Required
a. State the decision usefulness approach to accounting theory.
b. What two questions arise once the decision usefulness approach is adopted?
c. What primary constituency of financial statement users has been adopted by the Conceptual Framework as a guide to the reporting of decision useful financial information? What information does this constituency need according to the Framework
d. What characteristics does financial accounting information need if it is to be useful to the constituency identified in part c?
e. Explain why information about the riskiness of securities is useful to investors.



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  • CreatedSeptember 09, 2014
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