Compliance with Conceptual Framework of Accounting by SG Fleet Limited

Accounting Theory & Contemporary Issues
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Executive Summary
This report is directed to an ASX listed corporation, that is, SG Fleet Limited, to analyze
its compliance with the qualitative characteristics and other criteria’s provided by the conceptual
framework (CF) of accounting. It has been identified after examination of the annual report of
the company that it has followed all the essential requirements of the CF. The financial report of
the company develops is of high quality and useful for the decision-making purpose of the end-
users.
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Contents
Introduction.................................................................................................................................................4
1. Implementation of Measurement Requirements of CF by the Company................................................4
2. Fundamental Qualitative Requirements of CF.........................................................................................5
3. Enhancing Qualitative Criteria’s of CF......................................................................................................6
4. Usefulness of Financial Reports in Decision-Making of End-Users..........................................................8
5. Knowldge Required by End-Users to analyze the Financial Reports........................................................8
6. Requirements for General Purpose Financial Reporting..........................................................................8
Conclusion...................................................................................................................................................9
Recommendation........................................................................................................................................9
References.................................................................................................................................................10
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