{"id":"financial-reporting-framework","title":"Conceptual Framework for Financial Reporting","summary":"Connect the objectives of financial reporting, qualitative characteristics of information and concepts such as assets and liabilities.","concepts":["Objective: financial information useful for decisions","Qualitative characteristics: relevance and faithful representation","Recognition and measurement: reporting items and determining amounts"],"application":"Use the framework to explain accounting reasoning and information limits, or compare the information effects of alternatives.","limitations":"The framework does not replace individual IFRS standards. Separately check locally applicable standards, reporting periods and tax treatment.","directions":["Relevance: examine information that affects decisions.","Faithful representation: explain estimates and uncertainty transparently."],"category":"Accounting and finance","kind":"framework","kind_label":"Framework","persona_ids":["accountant"],"revision":1,"updated_at":"2026-10-07T00:00:00.000Z","sources":[{"title":"Conceptual Framework for Financial Reporting","url":"https://www.ifrs.org/issued-standards/list-of-standards/conceptual-framework/","publisher":"IFRS Foundation","edition":"Introduction to the 2018 framework","region":"IFRS; national adoption and applicable standards require separate checks","checked_at":"2026-10-07","reuse":"Independent editorial summary and source link; the original text is not republished."}],"review":{"status":"source-checked-editorial","expert_reviewed":false},"editorial_note":"Editorial English translation of the Korean edition. No professional translation or occupational expert review has been completed. Translation does not change the source jurisdiction.","language":"en","translation":{"status":"current","source_language":"ko","source_version":"kb-755638c141d94c6b","translated_at":"2026-10-08","professional_reviewed":false},"trust":"reference-data","version":"kb-9f5e05a097319268","links":{"document":"/en/knowledge/financial-reporting-framework","markdown":"/en/knowledge/financial-reporting-framework.md","api":"/api/v1/knowledge/financial-reporting-framework?lang=en"}}