Abstract:
“The objective of general-purpose financial reporting is to provide financial information
about the reporting entity that is useful to existing and potential investors, lenders and other
creditors in making decisions relating to providing resources to the entity. Those decisions
involve decisions about
(1) buying, selling or holding equity and debt instruments;
(2) providing or settling loans and other forms of credit; or
(3) exercising rights to vote on, or otherwise influence, management’s actions that affect
the use of the entity’s economic resources.”
