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Conceptual Framework - Coggle Diagram

- - - - Fair value
        
        Price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date
      - Current cost
        
        Cost of an equivalent asset at the measurement date
      - Value in use
        
        Present value of future cash flows or other economic benefits expected to derive from the use of an asset and from its ultimate disposal
- - - - Capable of making a difference in decisions
    - - Prudence
      - Substance over form
      - Complete, neutral and free from error
  - - - Classifying, characterising and presenting information clearly and concisely
    - - Capable to influence decisions in time
    - - Assure users that information faithfully represent the economic phenomena it purports to represent
    - - Enable users to identify and understand similarities in and differences among items