The Conceptual Framework for Financial Reporting











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*This is a new re-make of our IASB Conceptual Framework - Financial Accounting (FA) Reporting (FR) – ACCA CIMA masterclass* • Kaplan Tutor Belinda Wargent talks through the Conceptual Framework for Financial Reporting. Belinda explains the main elements to the framework with examples. This video is relevant to Financial Accounting and Reporting papers across ACCA and CIMA. • MORE ACCA CIMA REVISION: •    • ACCA and CIMA Revision   • 00:00 - 00:50 Intro • 00:50 - 01:57 Why do we need a framework? • 01:57 - 5:58 What is the framework? • 05:58 - 09:49 The Purpose of Financial Reporting • 09:49 - 17:16 Qualitative Characteristics • 17:16 - 21:19 The Elements • 21:19 - 24:55 Recognition Criteria • 24:55 - 27:51 Decrecognition Criteria • 27:51 - 30:15 Measurement • 30:15 - 35:30 Presentation and Disclosure • 35:30 - 35:44 Outro

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