Faithful representation is a fundamental characteristic of financial information. This term replaced reliable in the 2010 revisions

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‘Faithful representation’ is a fundamental characteristic of financial information. This term replaced ‘reliable’ in the 2010 revisions to the Conceptual Framework. Discuss the rationale for this change.

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Accounting

ISBN: 978-1118608227

9th edition

Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett

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Question Posted: Jun 18, 2019 09:53 AM

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Faithful representation is a fundamental characteristic of financial information. This term replaced reliable in the 2010 revisions

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Accounting

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