General purpose financial reports are most useful

this method not usually also "fairly present" income? ate whether the following statements about the Conceptual Framework are true e, provide a brief explanation supporting your position. General-purpose financial reports are most useful to company insiders in strategic business decisions. Accounting standards based on individual conceptual frameworks generally wil in consistent and comparable accounting reports. Capital providers are the only users who benefit from general-purpose fi reporting Accounting reports should be developed so that users without knowledge of ecor and business can become informed about the financial results of a company. The fundamental qualitative characteristics that make accounting information use relevance and verifiability. Conservatism, a prudent reaction to uncertainty, is considered a constraint of fin reporting. Information that is a faithful representation is characterized as having predict confirmatory value. -) Comparability pertains only to the reporting of information in a similar mann different companies. atco Company Ltd. reported the following amounts in 2017: Net income, Tk. 15,00 realized gain related to revaluation of buildings, Tk. 1,00,000; Unrealized loss rela lassmate is puzzled. During the last year, the ed a net loss of Taka 675,000, yet its cash inc of time. Explain to your classmate how this si arative balance sheet accounts of MMZ Comp Debit Accounts unts Receivable mandise Inventory tments ement ngs this method not usually also "fairly present" income? ate whether the following statements about the Conceptual Framework are true e, provide a brief explanation supporting your position. General-purpose financial reports are most useful to company insiders in strategic business decisions. Accounting standards based on individual conceptual frameworks generally wil in consistent and comparable accounting reports. Capital providers are the only users who benefit from general-purpose fi reporting Accounting reports should be developed so that users without knowledge of ecor and business can become informed about the financial results of a company. The fundamental qualitative characteristics that make accounting information use relevance and verifiability. Conservatism, a prudent reaction to uncertainty, is considered a constraint of fin reporting. Information that is a faithful representation is characterized as having predict confirmatory value. -) Comparability pertains only to the reporting of information in a similar mann different companies. atco Company Ltd. reported the following amounts in 2017: Net income, Tk. 15,00 realized gain related to revaluation of buildings, Tk. 1,00,000; Unrealized loss rela lassmate is puzzled. During the last year, the ed a net loss of Taka 675,000, yet its cash inc of time. Explain to your classmate how this si arative balance sheet accounts of MMZ Comp Debit Accounts unts Receivable mandise Inventory tments ement ngs