Question

How does the conceptual Framework explain the role of stewardship? ​

Answer 1

Providing information needed to assess management's stewardship is identified as an additional objective of financial reporting,

Step-by-step explanation:

How does the Conceptual Framework explain the role of stewardship? A. Providing information needed to assess management's stewardship is identified as an additional objective of financial reporting, equal in prominence to providing financial information useful to users in making decisions relating to providing resources to the entity

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Answer 2

The new Conceptual Framework emphasises that investors need information about both: • financial performance—income and expenses; and • financial position—assets, liabilities and equity. It also gives guidance on reporting financial performance.