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Accounting Concepts - Coggle Diagram
Accounting Concepts
Key concepts
Reporting period
Reporting entity
Going concern
accrual
Historical cost
Monetary unit
Full disclosure
Concepts and Standards
Conceptual Framework
IFAC
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IASB
#
IFRS
#
XRB
NZASB
NZ IFRS
Reporting Tiers
Tier 1
Tier 2
GAAP
Qualitative Characteristics
What?
Fundamental
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Relevance and Materiality
Confirmatory
Predictive
Faithful representation
Complete
Neutral
Error-free
Enhancing
Comparability
Verifiability
Timeliness
Understandability
What?
Financial reporting
Users