In this article we will discuss about the subject matter and uses of IASB’s conceptual framework. Subject-Matter of IASB'S Framework: IASB's conceptual framework deals with: (a) The objective of financial statements; (b) The qualitative characteristics that determine the usefulness of information in financial statements, (c) The definition, recognition and measurements of the elements from which financial statements are constructed; and [...]
In this article we will discuss about Interim Reporting:- 1. Need for Interim Reporting 2. SEBI'S Guidelines on Interim Reporting 3. Problems 4. Interim Reporting Practices in India. Need for Interim Reporting: In a dynamic business environment, with the increased scope and complexity of business enterprises, annual data are insufficient to evaluate developments in general economic, industry, and company activities [...]
In this article we will discuss about the guidelines and suggestions for improving interim reports. Guidelines for Improving Interim Reports: The primary purposes of interim reports are to help the users in prediction of results for the current year. Although interim reporting involves important accounting problems, its need and significance is now being felt by the investors and other users [...]