The Conceptual Framework for Financial Reporting 2018 (IFRS Framework 2018) sets out the concepts that underlie the preparation and presentation of financial statements for external users. Requirement:

Prepare a report for an investor with no prior knowledge of accounting that explains the:

(a) qualitative characteristics of financial information as detailed in IFRS Framework 2018.

(b) objective of a statement of financial position and its major limitations as a source of information for general users of financial statements.