Comparative Analysis section 2 International Financial Reporting Standard 2015 with Conceptual Frameworks 1989, 2010 and 2018

Abstract

It is really necessary that the analysis and understanding of regulatory frameworks be standardized today, such as the International Financial Reporting Standard of 2015 in this case, section 2 entitled Fundamental Concepts and Principles whose content deals with the objective of the states. financial statements of small and medium-sized entities, the qualitative characteristics of the information in the financial statements, the financial situation, performance, the recognition of assets, liabilities, income and expenses, the measurement of assets, liabilities, income and expenses, the principles general recognition and measurement, the accrual basis of accounting, recognition in the financial statements, measurement at initial recognition, subsequent measurement and compensation.

Through the analysis of the conceptual framework for the preparation and presentation of financial statements of 1989, the conceptual frameworks for financial reporting of 2010 and 2018, compared to the International Financial Reporting Standard of 2015, we can observe notable changes, both in the structure of the information such as some terms that have been updated or paragraphs that have been added or deleted.

It is important to recognize that over the years there is a perceived intention to promote more understandable information so that it can be implemented or applied with greater understandability and fluency by professionals in the field of presentation and presentation of financial statements.