- 5 Marks
PSAF – Nov 2020 – L2 – Q1b – General purpose financial reporting framework
This question explains the difference between general-purpose and special-purpose financial reports.
Question
In line with the Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities issued by the International Public Sector Accounting Standards Board (IPSASB), explain the difference, if any, between a General-Purpose Financial Report and a Special-Purpose Financial Report.
Find Related Questions by Tags, levels, etc.
- Tags: Financial Reporting, IPSAS, Public Sector, Special-Purpose Reports
- Level: Level 2
- Topic: General purpose financial reporting framework
- Series: NOV 2020
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