Since 1 January 2005,the Australian Accounting Standards Board's conceptual framework consists of:
A) The IASB's Framework for the Preparation and Presentation of Financial Statements
B) SAC 1: Definition of a Reporting Entity
C) SAC 2: Objectives of General Purpose Financial Reporting
D) All of the given options are correct

Question

Quizplus · Accepted Answer

All of the given options are correct. The Australian Accounting Standards Board's conceptual framework consists of the IASB's Framework for the Preparation and Presentation of Financial Statements, SAC 1: Definition of a Reporting Entity, and SAC 2: Objectives of General Purpose Financial Reporting since 1 January 2005.

Since 1 January 2005,the Australian Accounting Standards Board's Conceptual Framework