IASB_objective of financial statements

IASB: Objective of Financial Statements

The IASB's Framework for the Preparation and Presentation of Financial Statements (the Framework) is derived from the US GAAP conceptual framework, or at least those parts completed in the 1970s. The IASB Framework states that “the objective of financial statements is to provide information about the financial position, performance and changes in financial position of an enterprise that is useful to a wide range of users in making economic decisions.”