# Conceptual Framework for Financial Reporting

Connect the objectives of financial reporting, qualitative characteristics of information and concepts such as assets and liabilities.

 Framework · Accounting and finance


## Core 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 and jurisdiction
 The framework does not replace individual IFRS standards. Separately check locally applicable standards, reporting periods and tax treatment.


## Editorial perspectives
  Relevance: examine information that affects decisions.
 Faithful representation: explain estimates and uncertainty transparently.
 

## Sources
 IFRS Foundation · Introduction to the 2018 framework
[Conceptual Framework for Financial Reporting](https://www.ifrs.org/issued-standards/list-of-standards/conceptual-framework/) Context: IFRS; national adoption and applicable standards require separate checks
 Source checked: 2026-10-07
 Independent editorial summary and source link; the original text is not republished.


## Related personas
  [Accountant](https://personawiki.app/en/personas/accountant)

## Translation status
 Editorial English translation of the Korean edition. No professional translation or occupational expert review has been completed. Translation does not change the source jurisdiction.
 Translation prepared: 2026-10-08 · Source fingerprint: kb-755638c141d94c6b
[Korean source](https://personawiki.app/knowledge/financial-reporting-framework)

## API
[JSON document](https://personawiki.app/api/v1/knowledge/financial-reporting-framework?lang=en)