IFRS 5 Non-Current Assets Held for Sale and Discontinued Operations questions update

If you’re studying IFRS 5 Non-Current Assets Held for Sale and Discontinued Operations, why not test your knowledge with our IFRS multiple choice question quiz? This is available by clicking here. By practicing questions you’ll improve your study and recall, ideal for people who learn best by ‘doing’ rather than just reading. We’ve just uploaded …

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Understanding the Purpose of Conceptual Framework for IFRS

What is the purpose of the Conceptual Framework?

If there were no framework for preparing financial statement, accounting standards would be developed in a random, haphazard way to deal with issues as they arise. This would result in standards which would be inconsistent with each other or legislation.

By having a single conceptual framework, preparers and users of financial statements understand that accounting practices and accounting standards are based on this common ideology.

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6 Features of Good Corporate Governance in Public Sector Organisations

Public Sector organisations are different to private organisations as there can be a number of different stakeholders involved. For example, they may report and be held accountable to senior civil servants, who run the organisation and oversee its goals. They may also be accountable to the politicians, who these civil servants report to. Ultimately, they are accountable to the electorate, who vote the politicians into office.

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