According to the Conceptual Framework of Financial Reporting (2018), accrual accounting depicts the effects of...
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Finance
According to the Conceptual Framework of Financial Reporting (2018), accrual accounting depicts the effects of transactions and other events and circumstances on a reporting entitys economic resources and claims in the periods in which those effects occur, even if the resulting cash receipts and payments occur in a different period. This is important because information about a reporting entitys economic resources and claims and changes in its economic resources and claims during a period provides a better basis for assessing the entitys past and future performance than information solely about cash receipts and payments during that period.
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Evaluate whether cash flow reporting and sustainability reporting provide decision useful information to the users. Your discussion shall be based on the Conceptual Framework of Financial Reporting and empirical evidence. [max 400 words]
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