The objective of financial reporting is to provide information that is useful to providers of...
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Accounting
The objective of financial reporting is to provide information that is useful to providers of capital in making resource allocation decisions. The IASB however recognises that financial statements on their own, are not enough to meet this objective and has therefore joined with the IIRC to support Integrated Reporting. Business leaders in Australia are greatly concerned that this will just increase their reporting obligations for very little benefit.
Student A argues that is necessary to enhance the decision usefulness objective and will be of great benefit to companies and users of financial information
Student B argues that shareholders do not want this additional reporting and it is merely an added burden when companies are already greatly burdened by reporting requirements
