Conceptual Framework Lesson

Description

A mind map designed for AAT4 Financial Statements unit showing all the International Accounting Standards required by the syllabus
Liz Barraclough
Mind Map by Liz Barraclough, updated more than 1 year ago More Less
Liz Barraclough
Created by Liz Barraclough over 8 years ago
Liz Barraclough
Copied by Liz Barraclough over 8 years ago
Liz Barraclough
Copied by Liz Barraclough over 8 years ago
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Resource summary

Conceptual Framework Lesson
  1. Statements
    1. Statement of profit or loss and other comprehensive income
      1. Statement of Financial Position
        1. Statement of Cash Flows
          1. Statement of Changes in Equity
          2. Concepts
            1. Accruals
              1. Materiality
                1. Going Concern
                  1. Entity
                    1. Single entity
                      1. Group
                    2. Qualitative Characterstics
                      1. Faithful representation and Relevance
                        1. Comparability
                          1. verifiability
                            1. timeliness
                              1. understandability
                            2. External Users
                              1. Investors
                                1. Potential Investors
                                  1. Lenders
                                    1. Suppliers and other trade payables
                                      1. Customers
                                        1. Government
                                          1. Government Agency
                                            1. The general public
                                            2. Elements
                                              1. Assets
                                                1. Liabilities
                                                  1. Equity
                                                    1. Income
                                                      1. Expenses
                                                      2. Objective
                                                        1. Accounting Equation
                                                          1. Assets minus liabilities = equity
                                                        2. Structure
                                                          1. incorporated
                                                            1. private limited company
                                                              1. public limited company
                                                              2. unincorporated
                                                                1. Sole Trader
                                                                  1. Partnerships
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