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Statement of Principles


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A document first issued by the Accounting Standards Board in 1995 in an attempt to provide a conceptual framework for UK accounting standards. There are seven chapters:1. The Objectives of Financial Statements2. Qualitative Characteristics of Financial Information3. The Elements of Financial Statements4. The Recognition of Items in Financial Statement5. Measurement in Financial Statements6. Presentation of Financial Information7. The Reporting EntityVarious discussion drafts were subsequently issued before the Board published a final Statement of Principles in December 1999.

1. The Objectives of Financial Statements

2. Qualitative Characteristics of Financial Information

3. The Elements of Financial Statements

4. The Recognition of Items in Financial Statement

5. Measurement in Financial Statements

6. Presentation of Financial Information

7. The Reporting Entity

Subjects: Accounting.


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