Which of these is not an aspect of the Conceptual Framework's constraint of timeliness?
A) Preparing financial reports for a 12 month period.
B) The delay in publication of the financial reports after the end of the financial period.
C) The frequency of the reporting period.
D) Having information available in time to influence decisions.

Question

Quizplus · Accepted Answer

Timeliness as a constraint in the Conceptual Framework for Financial Reporting refers to having information available to decision-makers in time to be capable of influencing their decisions. It does not refer to the length of the reporting period itself, which is what choice A (preparing financial reports for a 12-month period) describes. Choices B, C, and D all relate to aspects of timeliness in terms of the availability and frequency of financial information.

Which of These Is Not an Aspect of the Conceptual