Accounting theory

Part (a) Identify and discuss the relevant users of financial reports using two different definitions of who a user of a financial report is. You should find at least two academic journal articles to support your arguments. Secondly, compare your findings with the definition provided in Statement of Accounting Concepts 2 'Objective of General-purpose Financial Reporting'. ▪ The Purpose of General Purpose Financial Reports Before identifying who a user of a financial report is, we need …

…pp F1-F35, London, International Accounting Standards Board. URL Available: www.geog.ox.ac.uk/research/wpapers/ economic/wpg04-08.pdf Jayne M Godfrey, Ian A Langfield-Smith, 'Regulatory capture in the globalization of accounting standards', WPG 04-08 SAC 2--Objective of General Purpose Financial Reporting. Accounting Handbook 2001 SAC 4--Definition and Recognition of the Elements of Financial Statements. Accounting Handbook, 2001 Thomas A Gavin. 'Improving the financial reporting process', Commercial Lending Review. New York: Sep 2003. Vol. 18, Iss. 5; pg. 10