- 5 Marks
PSAF – March 2024 – L2 – Q5c – Financial Statements Discussion and Analysis
Discuss two pervasive constraints on the information included in financial statements in public sector reporting.
Question
In an ideal world, every financial information should be captured in the financial statements to ensure completeness. However, in practice, there exist certain constraints on information included in the general-purpose financial reports.
Required:
Discuss TWO (2) pervasive constraints on the information included in the financial statements.
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